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2014 (10) TMI 387 - CESTAT MUMBAIWaiver of pre deposit - Delay in filing of returns - Imposition of penalty - Held that:- Rule 7C read with first proviso makes it abundantly clear that the maximum penalty that can be imposed under the said Rule is the one prescribed under Section 70. During the impugned period i.e. April 2008 to March 2011 the maximum penalty that could be imposed under Section 70 was ₹ 2000/-. Therefore, in respect of six returns, the maximum penalty that could have been imposed was only ₹ 12,000/- and not more than that amount. Therefore, prima facie I am of the view that the late fee of ₹ 1,01,500/- imposed is not sustainable in law. Inasmuch as the appellant has already paid a penalty of ₹ 10,000/- under Section 77, the same is sufficient for hearing of the appeal - stay granted.
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