EASIEST Service Tax – RBI Notification
If you remember, EASIEST stands for Electronic Accounting System in Central Excise & Service Tax. Now RBI informs the banks,
As you are aware Electronic Accounting System in Excise and Service Tax is operational as a pilot in Chennai since 2005. Further it has been extended to other parts of the country. However, only Excise challans were covered under the system so far. Central Board of Excise and Customs has now decided to include Service Tax also in EASIEST from March 1, 2007 so that service tax challan data also will be captured through EASIEST package. The Accounting procedure for Service Tax will be similar to that for Excise till further instructions. For including Service Tax in EASIEST all relevant Directories and Assessee profiles should be updated at your end as an advance preparation. You are advised to initiate the necessary steps for smooth inclusion of service tax under EASIEST.