Extended Banking Hours for Payment / E-Payment of Service Tax

RBI Instructions for Payment/ E-Payment of Service Tax in Extended Banking Hours during Closing activities of Banks

To support normal banking facility for payment of taxes during closing activities of the banks, RBI has instructed the banks to accept tax payments on 31 Mar. 2017 till 6 pm (offline) and till mid-night (online/ e-payment). Accordingly, the Service Tax Deptt  has also issued Circular advising the same to assessees, as under:

CBEC Circular No 205/03/2017 – Service Tax dt. 27 Mar. 2016

The RBI has issued instructions vide Notification dt. 16 Mar. 2017 to all agency banks to keep the counters of their designated branches conducting government business open till 8 pm on 30 Mar. 2017 and till 6 pm on 31 Mar. 2017. However, all electronic transactions would continue till midnight of 31 Mar. 2017, whereby the assessees can make e-payment of Service Tax till the mid-night of 31 Mar. 2017.

Similar instructions were issued last year as well, as under:

CBEC Circular No 191/01/2016 – Service Tax dt. 29 Mar. 2016

Leave a Reply