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2016 (1) TMI 260 - CESTAT MUMBAI

2016 (1) TMI 260 - CESTAT MUMBAI - 2016 (42) S.T.R. 312 (Tri. - Mumbai) - Levy of penalty - Waiver u/s 80 - appellant is not disputing the leviability of service tax. - Import of services - service of merchant banking in relation to external commercial borrowings (ECB) and Global Depository Receipts (GDR) - Held that:- t the appellant paid the service tax on 18.12.2007 whereas the show cause notice was issued on 11.08.2008 and adjudicated on 18.08.2011. The prompt payment of service tax even bef .....

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ilable to them as Cenvat credit and non payment would not result in any financial benefit. - The case deserves waiver of penalty under section 80 of the Finance Act and we order so. - Penalty waived - Decided in favor of assessee. - Appeal No. ST/607/11 - Final Order No. A/3910/2015-WZB/STB - Dated:- 24-11-2015 - P S Pruthi, Member (T) And Ramesh Nair, Member (J) For the Appellant : Shri Padmavati Patil, Adv For the Respondent : Shri A B Kulgod, Asstt Commissioner (AR) ORDER Per P S Pruthi T .....

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. The appellant paid certain fees to the lead managers. In adjudication proceedings it was held that the service of merchant banking is leviable to service tax in terms of section 65(12) read with section 65(105)(zm) of the Finance Act 1994. Further it was held that under section 66A of the Finance Act, 1994, where any taxable service is provided by a person who has an established business in a country other than India, and is received by a person who has his place of business, fixed establishme .....

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3. The appellant paid the entire amount of service tax, albeit under protest, before the issue of show cause notice. Interest under section 75 of the Finance Act and 25% of the penalty under protest were paid within 30 days of the date of the communication of the impugned order dt 18.08.2011 4. During the hearing before us today the learned counsel appearing on behalf of the appellant makes a categorical statement that appellant is not disputing the leviability of service tax. She does not dispu .....

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