Tribunal grants waiver of pre-deposit and reduces penalty in stay application

The Appellate Tribunal CESTAT, Mumbai allowed the modification of the stay application following a corrigendum issued by the Commissioner, reducing the penalty to Rs. 200 per day. The waiver of pre-deposit of penalty and Rs. 3,50,00,000 was granted as the applicants had paid the entire service tax demand and interest.

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The Appellate Tribunal CESTAT, Mumbai allowed the modification of the stay application due to a corrigendum issued by the Commissioner. The penalty was altered to Rs. 200 per day. The waiver of pre-deposit of penalty of Rs. 200 per day and Rs. 3,50,00,000 was granted as the entire service tax demand and interest had been paid by the applicants.

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