2015 (3) TMI 964

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....: Mr M Rammohan Rao, DC (AR) ORDER Per: D N Panda: The precise question in this appeal is whether the addition reading as "any amount credited or debited, as the case may be, to any account, whether called "Suspense account" or by any other name, in the books of account of a person liable to pay service tax, where the transaction of taxable service is with any associated enterprise," made to Ex....

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....trospectively even bringing an amendment to an Explanation appearing in the statute. But the nature and character of the amendment decides whether such amendment is declaratory or clarificatory and accordingly whether retrospective or not. A declaratory law is always prospective while clarificatory law is retrospective in nature. It is also well settled law that statute making amendment to the eff....