Revenue Neutrality
PrintListen to this Article
0:00
0:00
Piramal Healthcare Ltd Vs CCE&ST, Indore -2015(38)STR 1162(Tri-Del)
In this case, the appellant was required to pay Service Tax under reverse charge mechanism. After that they have paid the Service Tax in time, same was available to them as Cenvat Credit. By not paying the Service Tax in time, appellant has already suffered interest and have not taken credit of the Service Tax paid.Therefore, it is a situation of Revenue Neutrality Penalty u/s 76 is dropped. However, I consider that imposition of penalty u/s 77 shows the non-application of mind by the authorities. As u/s 77 penalty cannot be imposed for Non-filling of ST-3 return. In these circumstances penalty u/s 77 is also set aside.
In this case, the appellant was required to pay Service Tax under reverse charge mechanism. After that they have paid the Service Tax in time, same was available to them as Cenvat Credit. By not paying the Service Tax in time, appellant has already suffered interest and have not taken credit of the Service Tax paid.Therefore, it is a situation of Revenue Neutrality Penalty u/s 76 is dropped. However, I consider that imposition of penalty u/s 77 shows the non-application of mind by the authorities. As u/s 77 penalty cannot be imposed for Non-filling of ST-3 return. In these circumstances penalty u/s 77 is also set aside.
Category : Service Tax | Comments : 0 | Hits : 452
Also Read -
CENVAT CREDIT ON SET TOP BOX
CENVAT CREDIT ON SET TOP BOX INTRODUCTION Service providers have at least a Telephone in their office. They are paying service tax on the telephone charges. The service tax on telephone ...
NO KRISHI KALYAN CESS ON DEBTORS AS ON 13th MAY’ 2016 (PART -2) Read more at: http://www.casansaar.com/article-submit.htmlThe enabling provisions for KRISHI KALYAN CESS (KKC) are contained in ...
Also Read -
Krishi Kalyan Cess w.e.f. 01/06/2016
As you are aware that the Finance Act, 2016 has increased the service tax rate to include a new cess, namely Krishi Kalyan Cess, which is applicable w.e.f. 01/06/2016. The effective rate of service ta...
Comments