Service Tax - Electronic payment mandatory for those who paid tax of more than one lakh

By Vijay Kumar

AT present, an assessee who has paid a total Service Tax of Rs. 10 lakhs or more (including CENVAT Credit) is required to make payment of Service Tax electronically through Internet banking. Now this limit is reduced to Rs. 1 lakh.

This will come into force with effect from the 1st day of January 2014.

Notification No.16/2013 - ST., Dated: November 22, 2013