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TMI Blog2017 (4) TMI 225X X X X Extracts X X X X X X X X Extracts X X X X ..... y, the finding advanced in the impugned order to fix the moment of taxability by reference to the quantification provision does not have to be examined further - appeal allowed - decided in favor of assessee. - ST/85319/2016 - A/86148/17/SMB - Dated:- 4-11-2016 - Shri C J Mathew, Member (Technical) Shri Lakshmi Venkataraaman, Consultant for the appellant Shri B K lyer, Superintendent (AR) for the respondent Order The dispute for determination in this appeal of M/s Owens Corning (India) Pvt Ltd against order-in-original no. 07/ST-VII/RK/2015-16 dated 30 th October 2015 of Commissioner of Service Tax-VII, Mumbai is the applicability of Explanation (c) in section 67 of Finance Act, 1994 to tax held as payable under secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ility. 5. The original authority has taken note of the debit in the books of accounts as payments accrued to M/s Owens Corning USA and, in the light of Explanation inserted in section 67 of Finance Act, 1994 with effect from 10 th May 2008, viz. (c) gross amount charged includes payment by cheque, credit card, deduction from account and any form of payment by issue of credit notes or debit notes and book adjustment, and any amount credited or debited, as the case may be, to any account, whether called Suspense account or by any other name, in the books of account of a person liable to pay service tax, where the transaction of taxable service is with any associated enterprise. held the amounts to be due in 2008 itself. Cons ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of section 68 or the rules made under this Chapter, who fails to pay such tax, shall pay, in addition to such tax and the interest on that tax amount in accordance with the provisions of section 75, a penalty which shall not be less than one hundred rupees for every day during which such failure continues or at the rate of two per cent of such tax, per month whichever is higher, higher, starting with the first day after the due date till the date of actual payment of the outstanding amount of service tax; Provided that the total amount of the penalty payable in terms of this section shall not exceed the service tax payable in terms of this section shall not exceed fifty per cent of the service tax payable. makes it unambiguously ..... X X X X Extracts X X X X X X X X Extracts X X X X
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