In a bid to increase compliance and widen the tax net, the government on Wednesday made it mandatory for traders to make online payment of excise duty and service tax for amounts exceeding Rs 1 lakh. Earlier, those with dues of Rs 10 lakh and above were required to electronically pay their taxes.“It has now been decided to reduce the threshold of mandatory e-payment from Rs 10 lakh to Rs 1 lakh for both central excise and service tax payment with effect from January 1, 2014,” the Central Board of Excise and Customs (CBEC) said.

Source : http://www.business-standard.com/article/economy-policy/e-payment-of-tax-above-rs-1-lakh-a-must-113112700734_1.html

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