E-FILING OF EXCISE, SERVICE TAX RETURNS MANDATORY

The Finance Ministry (FM) has made it mandatory for taxpayers to file their central excise and service tax returns electronically from October 1, 2011. E-filing through the Centre's online tax payment application ACES (Automation of Central Excise and Service Tax) will be a must not only for returns due after October1, but also for returns of past periods which have not been filed yet or are to be revised. The Central Board of Excise and Customs (CBEC) said the returns would have to be filed electronically by all assesses, including export-oriented units, small-scale industries or those availing of certain exemptions, irrespective of the duty paid by them in the preceding financial year.