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of <h1>Supreme Court: Assessee must deposit disputed tax. Central Govt may refund. Deadlines set for filing documents.</h1> <h3>COMMISSIONER OF SERVICE TAX Versus SILVERLINE ESTATES</h3> The Supreme Court ruled that sub-section (2) of Section 73A of the Finance Act, 1994 is mandatory, requiring the assessee to deposit disputed tax ... Collection of amount in the name of service tax - mandatory nature of sub-section (2) of Section 73A of the Finance Act, 1994 - It is submitted that, It is for the Central Government to make the deposit to the Consumer Welfare Fund or to refund the amount to the person who has borne the incidence of indirect tax in terms of sub-section (6) of Section 73A of the Finance Act, 1994. Law does not require that the assessee will either refund the amount to the person who has borne the incidence of tax or pay the amount to the Consumer Welfare Fund. Issue notice, returnable within 6 weeks. The Supreme Court held that sub-section (2) of Section 73A of the Finance Act, 1994 is mandatory. The assessee must deposit disputed tax collected, with provisions for assessment/adjudication. Central Government may refund the amount to the person who bore the tax incidence. Notice issued, returnable in 6 weeks. Counter affidavit due in 3 weeks, rejoinder in 2 weeks. Listed for August 2022.
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