Tax settlement scheme limits payable service tax, interest and penalties under prescribed reduced rates for declared arrears. Under the Service Tax Dispute Resolution Scheme, 2008, a declarant who makes a timely declaration to the designated authority will have the amount payable in respect of tax arrears determined at prescribed reduced rates: where arrears are based on an adjudicating authority's determination or assessment, service tax (up to twenty-five thousand rupees) is fixed at a reduced rate and interest and penalties are fixed at a lower rate, with a proviso that if penalty exceeds the related service tax, the service tax amount is treated as the penalty; analogous reduced treatment applies where arrears arise from show cause or demand notices.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax settlement scheme limits payable service tax, interest and penalties under prescribed reduced rates for declared arrears.
Under the Service Tax Dispute Resolution Scheme, 2008, a declarant who makes a timely declaration to the designated authority will have the amount payable in respect of tax arrears determined at prescribed reduced rates: where arrears are based on an adjudicating authority's determination or assessment, service tax (up to twenty-five thousand rupees) is fixed at a reduced rate and interest and penalties are fixed at a lower rate, with a proviso that if penalty exceeds the related service tax, the service tax amount is treated as the penalty; analogous reduced treatment applies where arrears arise from show cause or demand notices.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
