TMI Blog2013 (8) TMI 642X X X X Extracts X X X X X X X X Extracts X X X X ..... vice tax @4% instead of 12%/10% by exercising their option under Works Contract (Composition Scheme for Payment of Service Tax) Rules, 2007. Waiver of Pre-deposit - Taking into consideration the interest of the revenue as well as the financial condition of the Applicant and also the principle of law laid down relating to disposal of stay applications by the Hon’ble Apex Court and High Courts - the Applicant could not able to make out a prima facie case for total waiver of pre-deposit of the dues - 25% of the duty to be deposited - rest of the duty to be waived till the disposal – Conditional Stay granted. - APPEAL NO.ST/A/230/2011 - ORDER NO.S-430/KOL/13 - Dated:- 2-7-2013 - DR. D.M.MISRA AND DR. I.P.LAL, JJ. FOR THE APPELLANT: S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 previous financial year also, the margin of profit was also low. However, since the Balance Sheet for the current year is under preparation, he is not in a position to submit the same immediately. 3. Per contra, ld. AR or the Revenue has submitted that any payment @4% of the service tax under the Works Contract (Composition Scheme for Payment of Service Tax) Rules, 2007, during the relevant period, an assessee has to exercise their option in writing to the concerned authority. The Applicant in the present case had not writte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hese 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the said works contract and the option so exercised shall be applicable for the entire works contract and shall not be withdrawn until the completion of the said works contract. 5.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 the said Rule, prima facie, we find that the assessee not only required to exercise his option to pay service tax under the said Scheme but also is required not to withdraw the option once exercised and applicable for the entire Works Contract, till completion of the said contract. Therefore, prima facie, in our opinion, the Applicant was required to intimate the Department stating that they would be paying service tax @4% ins ..... X X X X Extracts X X X X X X X X Extracts X X X X
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