Monetary Limit for Mandatory E-Payment of tax reduced from Rs. 10L to Rs.

Monetary Limit for Mandatory E-Payment of tax reduced from Rs. 10L to Rs.
 
As per Rule 6(2) of Service Tax Rules, 1994 person who has paid Service Tax (Challan+CENVAT) amounting to Rs.10 Lakhs or more, in preceding F.Y., shall pay the tax electronically; however with effect from 1st January, 2014 the monetary limit has been reduced to Rs. 1 Lakh vide Notification No. 16/2013-ST dated November 22, 2013. Therefore, service provider who has paid service tax amounting to Rs. 1 Lakh or more in F.Y. 2012-2013 is required to pay service tax liability for the month of December, 2013 or quarter ending December, 2013 electronically.