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2018 (11) TMI 573 - CESTAT MUMBAIPenalty u/s 78 - Presence of malafide intent or not - reverse charge mechanism - Held that:- Since the service tax amount was not deposited by the appellant within the stipulated time and such amount was deposited as a consequence of the objection raised by the audit wing, it is manifest that provisions of Section 78 of the Act, are attracted for imposition of penalty on the appellant. However, in case, when the assessee maintains specified records, the proviso appended to Section 78 of the Act, mandates that imposition of penalties should be restricted to 50% of the determined amount of service tax - the quantum of penalty is thus reduced to 50%. Appeal allowed in part.
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