Penalty under section 70 of finance act 1994
WebDec 1, 2015 · Finance Act 2015 has drastically amended the penalty provisions under the Finance Act 1994 (Service Tax law) in order to ensure nondiscriminatory form of penalties. Earlier penalties u/s 76 (for short payment of S/Tax) and u/s 78(Suppression of facts) used to be at Rs 100/- per day or 1% per month whichever is higher. This lead to the number of … Web2 days ago · The Tribunal has decided the appeal on the sole ground of whether the appellant was justified in invoking the extended period of limitation under Section 73 of the Finance Act, 1994 and imposing penalty in terms of Section 78 of that Act. 8. Section 73(1) of the Finance Act, 1994 reads as under :-
Penalty under section 70 of finance act 1994
Did you know?
Web9 Penalties for contraventions of statutory requirements. U.K. (1) This section applies, subject to section 10 below, to any conduct in relation to which any enactment (including an enactment contained in this Act or in any Act passed after this Act) provides for the conduct to attract a penalty under this section. (2) Any person to whose conduct this section … WebMar 3, 2011 · The changes brought in the Finance Act, 1994 are as under: Section 70 contains the provisions for furnishing returns. Therein it is prescribed that in case of delay in furnishing of return a late fee not exceeding Rs. 2000 will be charged. ... Section 80 of the Finance Act, 1994 which provides that Penalty will not be imposed in cases where ...
WebApr 8, 2016 · Section 70 (1) of the Finance Act, 1994 (‘Act’ for short) provides that every person liable to pay service tax shall himself assess the tax due on the services provided …
WebThe adjudicating authority has failed to take note of these facts of suppression and imposed penalty only under section 76 of the Finance Act, 1994. He prayed that the impugned order may be interfered with by imposing penalty under section 78 of the Act ibid. 3. None appeared for the respondent though notices were issued for hearing. 4. WebNov 15, 2013 · Obligation to tolerate an act – A declared service. One of the special features of the negative list based service tax regime, introduced with effect from 1st July, 2012, is the introduction of the concept of declared services (Section 66E of the Finance Act, 1994). Declared services, which are actually described in 9 serial entries, are ...
WebJan 7, 2012 · Chapter V of Finance Act, 1994. Reference to section 66 to be construed as reference to section 66B (1) (w.e.f. 1-7-2012) Principles of interpretation of specified descriptions of services or bundled services (w.e.f. 1-7-2012) Date of determination of rate of tax, value of taxable service and rate of exchange.
Web5. In my considered view penalties imposed under section 70 read with rule 7c of the service tax rules cannot be waived any condit...the issue involved in this case that regarding the penalty imposed on the appellant under section 78 of the Finance Act...1994, as also penalty under section 77 of the Finance Act 1994. 4. hollister school district cboWeb"(a) Consultation and Conferencing.—As provided by regulations issued under the Endangered Species Act (16 U.S.C. 1531 et seq.) for emergency situations, formal consultation or conferencing under section 7(a)(2) or section 7(a)(4) of the Act [16 U.S.C. 1536(a)(2), (4)] for any action authorized, funded or carried out by any Federal agency to ... hollister round tableWebApr 29, 2011 · Amendment in Section 70 (1) ‘In Section 70 (1) of the Finance Act, 1994, for the words “two thousand rupees”, the words “twenty thousand rupees” shall be substituted’. After considering the above amendment the Maximum Penalty for hollister sale coatsWebA penalty imposed under Section 60 of the VAT Act 1994 is equal to the amount of VAT evaded or sought to be evaded. However, a penalty assessment can be reduced to any … hollister scrap metalWebA penalty imposed under Section 25 of the Finance Act 2003 is equal to the amount of tax or duty evaded or sought to be evaded. ... is contained in Section 70 of the VAT Act 1994. Section 70(1 ... hollister seasonal jobWebProvided that where such service tax as determined under sub-section( 2) of section 73 and the interest payable thereon under section (75), is paid within 30 days form the date of communication of order of the Central Excise officer determining such service tax, the amount of penalty liable to be paid by such person shall be twenty five per ... hollister school district hollister moWeb4 [(2) The person or class of persons notified under sub-section ( 2) of section 69, shall furnish to the Superintendent of the Central Excise, a return in such form and in such manner and at such frequency as may be prescribed.] ***** Notes : 1. Sections 70 and 71 … hollister school district clever