- Published on 27 November 2013
Gujarat Global News Network, New Delhi
The Central Government has decided to reduce the threshold limit of mandatory e-payment from Rs.10 lakh to Rs.one lakh for Central Excise and Service Tax both with effect from January 1, 2014.
Accordingly a manufacturer or a service tax provider who has paid a duty or tax of more than Rs.one lakh in the previous financial year shall be required to pay duty or tax through internet banking.
This step has been taken as a measure of trade facilitation and would increase coverage of e-payment, a release from Finance Ministry said.
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