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PENALTY U/S 78 IF SERVICE TAX HAS BEEN DEPOSTED BEFORE SCN

Service Tax - Started By: - Mehul Pandya - Dated:- 2-12-2015 Last Replied Date:- 5-12-2015 - SIR, WE HAVE PAID OUR FULL SERVICE TAX LIABILITY BEFORE ISSUE OF SCN. WE HAVE ALSO PAID INTEREST ON THE SAME AFTER OIO ADJUDICATED/PASSED. DO WE ELIGIBLE FOR PENALTY WAIVE U/S 78. PL. QUOTE SUPPORTING CASE LAWS IN THIS MATTER. THANK YOU - Reply By KASTURI SETHI - The Reply = (1) As per Section 78 (1) of the Finance Act,1994, you are eligible to take the benefit of reduced penalty by 75% only if you have .....

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plicable to you. Pl. note that Ii if you have crossed a period of thirty days from the receipt of OIO, you will have to pay penalty equal to 100% of the amount of demand of service tax confirmed. - Reply By Ganeshan Kalyani - The Reply = Sir, I would like to welcome your view in a situation where based on audit objection the cenvat credit was reversed and applicable interest was also paid. Even though department issued show cause notice stating that the ineligible credit was taken willingly by t .....

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se, Cenvat Credit along with interest stands deposited on the spot during audit i.e. prior to the issue of SCN, SCN should not have been issued as per Section 73 (3) of the Finance Act. Rule 14 is subject to Section 73 of the Finance Act. Penalty should not have been imposed. In case SCN was required to be issued, it should have been issued for for confirmation and appropriation of the amount already reversed. Penalty clause should not have been invoked in the SCN. Invocation of penalty clause i .....

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nts of mens rea are not present and evasion has taken place due to procedural or technical reasons, penalty will be imposable under Section 76. - Reply By Mehul Pandya - The Reply = Thank you sir for your valuable replySir,For removal of confusion I hereby elaborate the case.During the investigation dept. found that we have received some advance and they told that we have to discharge service tax on advance as per Point of Taxation rules. earlier we are in opinion that we have to raise bill afte .....

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