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TMI BlogPenalty for failure to pay service tax for reasons of fraud, etc.X X X X Extracts X X X X X X X X Extracts X X X X ..... pay a penalty which shall be equal to hundred per cent. of the amount of such service tax: Provided that in respect of the cases where the details relating to such transactions are recorded in the specified record for the period beginning with the 8th April, 2011 upto the date on which the Finance Bill, 2015 receives the assent of the President (both Days inclusive), the penalty shall be fifty per cent of the service tax so determined. . Provided further that where service tax and interest is paid within a period of thirty days of -- (i) the date of service of notice under the proviso to sub-section (1) of section 73, the penalty payable shall be fifteen per cent. of such service tax and proceedings in respect of such service tax, interest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amount as determined under sub-section (2) of section 73, the time within which the interest and the reduced penalty is payable under clause (ii) of the second provisio to sub-section (1) in relation to such increased amount of service tax shall be counted from the date of the order of the Commissioner (Appeals), the Appellate Tribunal or the court, as the case may be.] ***************************** Notes : 1. Substituted for the portion beginning with the words If the Assistant Commissioner and ending with the words value of such taxable service: by the Finance (No. 2) Act, 2004, w.e.f. 10-9-2004. Prior to its substitution, the said portion, as amended by the Finance Act, 2001, w.e.f. 16-7-2001, read as under: If the Assistant Commissioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Central Excise or, as the case may be, the Deputy Commissioner of Central Excise by the Finance Act, 2005, w.e.f. 13-5-2005. 4. Fifth proviso inserted vide Finance Act, 2008 w.e.f. 10-5-2008 5. Substituted vide Finance Act, 2011, before it was read as, Penalty for suppressing value of taxable service. 78. 1 [Where any service tax has not been levied or paid or has been short-levied or short-paid or erroneously refunded, by reason of- ( a ) fraud; or ( b ) collusion; or ( c ) wilful mis-statement; or ( d ) suppression of facts; or ( e ) contravention of any of the provisions of this Chapter or of the rules made thereunder with intent to evade payment of service tax, the person, liable to pay such service tax or erroneous refund, as determ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proviso shall be available, if the amount of service tax so increased, the interest payable thereon and twenty-five per cent of the consequential increase of penalty have also been paid within thirty days of communication of the order by which such increase in service tax takes effect. 4 [ Provided also that if the penalty is payable under this section, the provisions of section 76 shall not apply.] Explanation.-For the removal of doubts, it is hereby declared that- ( 1 ) the provisions of this section shall also apply to cases in which the order determining the service tax under sub-section (2) of section 73 relates to notices issued prior to the day on which the Finance Act, 2003 receives the assent of the President; (2) any amount paid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fficer determining such service tax, the amount of penalty liable to be paid by such person under the first proviso shall be twenty-five per cent of such service tax: Provided also that the benefit of reduced penalty under the second proviso shall be available only if the amount of penalty so determined has also been paid within the period of thirty days referred to in that proviso: Provided also that in case of a service provider whose value of taxable services does not exceed sixty lakh rupees during any of the years covered by the notice or during the last preceding financial year, the period of thirty days shall be extended to ninety days. (2) Where the service tax determined to be payable is reduced or increased by the Commissioner (Ap ..... X X X X Extracts X X X X X X X X Extracts X X X X
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