14 March 2016
My client has paid service tax with intetest before issue of showcause notice. My Question is whether my client gets penalty u/ s 73 or any other section. Please guide me.
15 March 2016
Section 76 - If SCN isssued under 73 (1) Cases not involving fraud or collusion or wilful mis-statement or suppression of facts or contravention of any provision of the Act or rules with the intent to evade payment of Service Tax - No penalty if service tax & interest paid within 30 days from the date of service of SCN
Section 78 - Cases involving fraud or collusion or wilful mis-statement or suppression of facts or contravention of any provision of the Act or rules with the intent to evade payment of Service Tax 15% penalty of service if service tax & interest paid within 30 days from the date of service of SCN If Service tax, interest & penalty paid within 30 days from the date of receipt of order- reduced penalty of 25% of the service tax
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