Online payment of service tax of over Rs 10 lakh made mandatory

The Central Board of Excise and Customs (CBEC) has made it mandatory for assessees who have paid Rs 10 lakh or more as for 2008-09 to file returns electronically through internet banking from this year.

Notifications issued by the government also specify the same for paid to mandatorily file returns electronically. In both cases, Rs 10 lakh or more include the amount paid by utilisation of Cenvat credit.

While returns for central excise cannot be revised once filed, contents of service tax could be amended once within 90 days of filing returns.

Besides, has automated almost an entire range of services in indirect tax. For electronic filing, it has devised new software called Automation of Central Excise and Service Tax (ACES) with connectivity in 104 commissionerates. It could be used for electronic filing of central excise and service tax from April 1.

Under ACES, several processes of central excise and service tax payments have been automated. These include registration of assessees, refunds, filing of returns, accounting, disputes resolution, audit, provisional assessment, exports, claims, intimations and permission to assessees. Officials said such automation will not only reduce physical interface and save time both for the department and the assessee, but also facilitate online tracking of the status of the selected documents, online viewing and internal messaging.

CBEC soon proposes to set up certified facilitation centres (CFCs) with the help of professional bodies like Institute of Chartered Accountants of India, Institute of Cost and Works Accountants of India, etc. These will provide a host of services such as digitisation of paper documents like returns and uploading the same to ACES. The assessees will, however, have to pay for such services. CBEC will approve the maximum rates at which CFCs can charge their customers.

In order to avail of such services, the assessees can choose one of the CFCs approved by the department to act on its behalf. However, it has been clarified that an assessee will be held liable for all actions of CFCs during the period they are authorised to work in ACES.

image
Business Standard
177 22
Business Standard

Online payment of service tax of over Rs 10 lakh made mandatory

Anindita Dey  |  Mumbai 



The Central Board of Excise and Customs (CBEC) has made it mandatory for assessees who have paid Rs 10 lakh or more as for 2008-09 to file returns electronically through internet banking from this year.

Notifications issued by the government also specify the same for paid to mandatorily file returns electronically. In both cases, Rs 10 lakh or more include the amount paid by utilisation of Cenvat credit.

While returns for central excise cannot be revised once filed, contents of service tax could be amended once within 90 days of filing returns.

Besides, has automated almost an entire range of services in indirect tax. For electronic filing, it has devised new software called Automation of Central Excise and Service Tax (ACES) with connectivity in 104 commissionerates. It could be used for electronic filing of central excise and service tax from April 1.

Under ACES, several processes of central excise and service tax payments have been automated. These include registration of assessees, refunds, filing of returns, accounting, disputes resolution, audit, provisional assessment, exports, claims, intimations and permission to assessees. Officials said such automation will not only reduce physical interface and save time both for the department and the assessee, but also facilitate online tracking of the status of the selected documents, online viewing and internal messaging.

CBEC soon proposes to set up certified facilitation centres (CFCs) with the help of professional bodies like Institute of Chartered Accountants of India, Institute of Cost and Works Accountants of India, etc. These will provide a host of services such as digitisation of paper documents like returns and uploading the same to ACES. The assessees will, however, have to pay for such services. CBEC will approve the maximum rates at which CFCs can charge their customers.

In order to avail of such services, the assessees can choose one of the CFCs approved by the department to act on its behalf. However, it has been clarified that an assessee will be held liable for all actions of CFCs during the period they are authorised to work in ACES.

RECOMMENDED FOR YOU

Online payment of service tax of over Rs 10 lakh made mandatory

The Central Board of Excise and Customs (CBEC) has made it mandatory for assessees who have paid Rs 10 lakh or more as service tax for 2008-09 to file returns electronically through internet banking from this year.

The Central Board of Excise and Customs (CBEC) has made it mandatory for assessees who have paid Rs 10 lakh or more as for 2008-09 to file returns electronically through internet banking from this year.

Notifications issued by the government also specify the same for paid to mandatorily file returns electronically. In both cases, Rs 10 lakh or more include the amount paid by utilisation of Cenvat credit.

While returns for central excise cannot be revised once filed, contents of service tax could be amended once within 90 days of filing returns.

Besides, has automated almost an entire range of services in indirect tax. For electronic filing, it has devised new software called Automation of Central Excise and Service Tax (ACES) with connectivity in 104 commissionerates. It could be used for electronic filing of central excise and service tax from April 1.

Under ACES, several processes of central excise and service tax payments have been automated. These include registration of assessees, refunds, filing of returns, accounting, disputes resolution, audit, provisional assessment, exports, claims, intimations and permission to assessees. Officials said such automation will not only reduce physical interface and save time both for the department and the assessee, but also facilitate online tracking of the status of the selected documents, online viewing and internal messaging.

CBEC soon proposes to set up certified facilitation centres (CFCs) with the help of professional bodies like Institute of Chartered Accountants of India, Institute of Cost and Works Accountants of India, etc. These will provide a host of services such as digitisation of paper documents like returns and uploading the same to ACES. The assessees will, however, have to pay for such services. CBEC will approve the maximum rates at which CFCs can charge their customers.

In order to avail of such services, the assessees can choose one of the CFCs approved by the department to act on its behalf. However, it has been clarified that an assessee will be held liable for all actions of CFCs during the period they are authorised to work in ACES.

image
Business Standard
177 22

More News

  • Modi to chair meeting on island development soon Modi to chair meeting on island development soon
  • Higher domestic prices dent cotton exports from India Higher domestic prices dent cotton exports from India
Widgets Magazine

Widgets Magazine

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard