2018 (11) TMI 921

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..... the date on which the Finance Bill, 2015 receives the assent of the Hon’ble President of India, the penalty shall be 50% of the service tax so determined - There is no dispute with regard to the fact that the appellant has not recorded the said transactions in their specified records. Penalty is to be reduced to 50% of the service tax - appeal allowed. - ST/61154/2018-ST[SM] - FINAL ORDER NO. .....

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..... firmed to the tune of ₹ 39,00,456/- alongwith interest and penalty equivalent to the amount of service tax was confirmed under Section 78 of the Finance Act, 1994. 3. The appellant is aggrieved from the imposition of penalty 100% of the service tax under Section 78 of the Finance Act, 1994; therefore filed this appeal. 4. Heard the parties. 5. To impose the penalty under Section 78, .....

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..... 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. . 6. On going through the said provisions, I find that as per proviso to Section 78( .....

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