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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 fr .....

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from 14.5.2015. Therefore for the period prior to 14.5.2015 the provisions of the Section can be enforced since it was not omitted with retrospective effect. - Reply By vijay kumar - The Reply = Please refer to transitory provisions under Section 78 .....

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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 i .....

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