Presently, where an assessee has paid Service tax or Central Excise in Cash or through Cenvat credit of Rs. 10 lakh or more in the preceding financial year, he is required to make payment of Service tax or Central Excise electronically through internet banking.
However with effect from 01.01.2014, the limit of Rs. 10 lakhs has been reduced to Rs. 1 lakh & any payment for said amount or more shall be required to be made electronically both for payment of Service Tax (Notification No. 16/2013-S.T.dated 22 Nov 2013 ) and Excise duty (Notification No: 15/2013 – Central Excise (N.T.)) dated 22.11.2013).
Earlier this limit was Rs.10,00,000/-. copy of Notification can be accessed through below link:-
(1) For service Tax
(2) For Excise
Resource:- www.cbec.gov.in
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