E-Payment Facility of Central Excise & Service Tax

(Mandatory e-Payment of Service Tax w.e.f 1 October, 2006)

Central Board of Excise and Customs (CBEC) has decided to make e-Payment of Service Tax mandatory for those Taxpayers or Assessees who are paying more than Rs 50 lacs as Service Tax in a year, w.e.f 1 October, 2006. Also, making mandatory e-Payment of Central Excise by Taxpayers in due course is under active consideration of CBEC.

Our Bank is already offering the facility of online payment of Central Excise and Service Tax since July 2005 wherein a Current Account needs to be opened with the Bank with Corporate iConnect facility. The broad features of the e-Payment Facility towards online payment of Central Excise and Service Tax by the registered Assessees is as under:

Availability of the Facility

• To the Customer having a Current Account with Any Branch of the Bank, paying Central Excise and Service Tax in the Commissionerates where the Bank is authorised ie, at Mumbai, Delhi, Bangalore and Hyderabad.
• To the Customer registered for corporate iConnect Facility of the Bank with Funds Transfer Facility.
• To the Customer who has the PAN based 15 digit Assessee Code and registers with the Bank for e-Payment Facility through Corporate iConnect.

Payment Timings

• This is a 24x7x365 facility and as such customers can make payment any time of the day.
• All payments effected up to 8:00 PM will be accounted for the same day and all payments effected after 8:00 PM will be accounted for on the next working day.

Advantages

• Ease of operation and convenience
• Facility is available 24x7x365 basis
• One can pay on behalf of the firm, company and others
• Online payment of taxes from desktop
• Filing of single challan with immediate acknowledgement of payments
• Receipted copy of the challan delivered at doorstep

If you are already an Axis Bank Current Account customer, then please contact your branch for signing up for Corporate iConnect with fund transfer facility and register for CBEC e-Payment.