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TMI Blog2013 (8) TMI 642X X X X Extracts X X X X X X X X Extracts X X X X ..... isra; This is an Application seeking waiver of predeposit of service tax of Rs.1,07,46,439/- and penalty of Rs.5,000/- under Section 77 of the Finance Act, 1994. 2. The ld. Chartered Accountant has stated that the Applicant are engaged in providing 'Commercial or Industrial Construction Service' in respect of construction of residential complex and 'Works Contract Services' during the relevant p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te of service tax @12%/10%. However, he fairly conceded that there was no mention about the said rate in the ST-3 return. The ld. CA further submitted that the Applicant Company is a Partnership Firm and the Concern as a whole has been facing severe financial crisis. In these circumstances, the Applicant are not able to predeposit the entire dues adjudged. The ld. CA further submitted that in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h law. In the present case, when there is a specific provision for exercising option in regard to payment of service tax at a concessional rate, in absence of exercising any such option, the Applicant would not be entitled to avail the benefit of the said Rules. 4. Heard both sides and perused the records. Undisputedly, the Applicant has been rendering services under the category of 'Commercial o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ........ (3) The provider of taxable service who opts to pay service tax under these rules shall exercise such option in respect of a works contract prior to payment of service tax in respect of the said works contract and the option so exercised shall be applicable for the entire works contract and shall not be withdrawn until the completion of the said works contract. 5. On a plain reading of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Applicant could not able to make out a prima facie case for total waiver of predeposit of the dues adjudged. In these circumstances, we direct the Applicant to deposit 25% of the service tax involved within a period of 10 weeks from today and report compliance on 23.09.2013. On compliance, the balance dues adjudged would stand waived and its recovery stayed during pendency of the Appeal. Failur ..... X X X X Extracts X X X X X X X X Extracts X X X X
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