Indian Govt. launches e-Payment system for Excise and Service Tax
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Indian Govt. launches e-Payment system for Excise and Service Tax

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Now, it would be mandatory to make the payment through e-Mode from April 1, 2007. The Finance Minister of India, P. Chidambaram has launched the Electronic Accounting System in Excise and Service Tax (EASIEST).

 

While launching the electronic accounting system he told that e-Payment is the most convenient method for payment of excise & service tax. The Central Board of Excise and Customs in association with Principal Chief Controller of Accounts, Reserve Bank of India and 28 Scheduled Banks has introduced a simplified electronic accounting system for central excise and service tax payments called EASIEST. EASIEST would require only a single challan for payment of Central Excise and Service Tax. It would capture all the essential information required from the assessee in relation to his tax payments. EASIEST uses the electronic environment for expeditious transmission of tax information to ensure greater accuracy and reliability of tax payment data. The Government has also proposed to reconcile the data so captured from the single challan with the tax returns filed by central excise and service tax assesses. 

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