Sunday, December 15, 2013

E-payment of tax above Rs 1 lakh a must

Threshold of mandatory e-payment reduced from Rs 10 lakh to Rs 1 lakh for both central excise and
service tax payment. The revised changes are applicable from January 1, 2014. The threshold
annual turnover above which traders have to pay central excise tax is Rs 1.5 crore; for service tax, it
is Rs 10 lakh

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