I was not aware that may service is covered under service tax. Department levied tax liability about Rs. 34 lakhs and penalty of equal amount. Is there any way to waive such penalty. Please furnish me any case laws.
Menu
Penalty
Replies (2)
THE DEPARTMENT HAS DONE THEIR JOB.
IT MAY BE WRONG OR WRITE.
THE ONLY WAY FOR YOU TO GO TO APPEAL
Hi Krutesh,
As a general law, ignorance of law is not at all an excuse.
I know its harsh on the assesse but you must know your government liabilities.
Moreover, what you can do now is there is a provision Section 73(1A) of Finance Act, 1994 from which you can reduce your penalty to 25%. Provided you paid the Service Tax and other dues as per provision within 30 days of notice.
Warm Regards.
Related Topics
CAclubindia
