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Applicability of Section 73 (4A)

Service Tax - Started By: - Mehul Pandya - Dated:- 6-7-2015 Last Replied Date:- 16-7-2015 - Sir, w.e.f. 14.05.15 section 73 (4A) for penalty is omitted. My query is audit team is demanding penalty under the same section for the duty demand pending from 2011 to 31.03.2015. We have paid entire duty along with interest on 03.07.15 that is after 14.05.15. Can department still demand penalty u/s 73(4A) ? - Reply By Rajagopalan Ranganathan - The Reply = Sir, Omission of Section 73 (4A) was with effect .....

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eddy - The Reply = Sir, Payment of 1% of ST as penalty per month under erstwhile Section 73(4A) of the FA,1994 is applicable only in cases involving suppression of facts, willful misstatement etc. If these elements are not there, payment of ST with interest should suffice under Section 73(3),not to issue SCN even if the point is detected by the Audit . The applicability of erstwhile Section 73(4A) for past cases will depend on whether or not suppression of facts, willful misstatement etc are pre .....

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