Question 8 - In case a notice is adjudicated under Section 74 and order issued confirming tax demand and penalty, does the noticee have any option to pay reduced penalty?

Reduced penalty option: pay determined tax and interest with a reduced penalty within the statutory short period to conclude proceedings.

Where an adjudication under Section 74 confirms tax and penalty, the noticee may conclude proceedings by paying the determined tax and applicable interest together with a penalty equivalent to fifty percent of such tax within thirty days of communication of the order.