2005 (2) TMI 1

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... No. 272/2005-NB(A) - Dated:- 11-2-2005 - [Order per: S. S. Kang, Vice-President]. - Heard both sides. The appellant filed this appeal against the order-in-appeal passed by the Commissioner (Appeals). 2. Brief facts of the case are that the appellant are subsidiary of General Insurance Corporation of India, engaged in the business of general insurance and they are liable to pay service tax i .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ssessment. The provisions of interest in respect of finalisation of assessment were introduced w.e.f. 1-7-2001 as incorporated under Rule 7 of Central Excise Rules, 2001. The appellant submitted that during the relevant period, Rule 6 of Service Tax Rules does not provide for payment of interest at the time of finalisation of assessment on service tax which was paid less. 4. The revenue relied u .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Further we find that the revenue is also asking for interest in respect of late payment of service tax. We find that during the relevant period, Rule 6 of Service Tax Rules, 1994 which provides for provisional assessment does not pro vide for payment of interest in respect of short payment of service tax. The pro vision of interest was, introduced w.e.f. 1-7-2001 and the period in the present case .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X