CBEC launches e-payment system for accounts offices

Indirect tax body Central Board of Excise and Customs (CBEC) today launched electronic payment system for accounts offices of excise and service tax.

It also introduced a new software to make the accounting system within CBEC fully automated.

Revenue Secretary P V Bhide inaugurated the e-pay system, software and a website for Chief Controller of Accounts, CBEC.

After automation, information for accounting headwise, reports on collection of duty and other items will be easily available.

The government wants to replicate the same system on the customs side as well, the Controller General of Accounts, CBEC, C R Sundaramurti, said.

The system assumes importance at a time when the Goods and Services Tax is expected to be rolled out.

“Our initial brainstorming indicates that the accounting system may have to follow the existing broad framework being inaugurated today with such changes as may become necessary on the basis of the decisions of the Empowered Committee (on GST),” Sundaramurti said.