TaxTMI 
TaxTMI 
Question - What are proposed transitional provision in service tax in Finance Bill 2015 ?
Transition Provision
01 Mar 2015 
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Transitional provision in service tax: amended notice-and-order rules apply; penalty capped at half of the tax demand.
The transitional provision applies the amended procedural provisions to cases where no notice was served, or a notice under the primary notice route was served but no subsequent order issued before enactment; for specified charging-provision cases meeting the same timing conditions, penalty exposure is limited by a cap equal to half of the assessed service tax amount. (AI Summary)
The transitional provision applies the amended procedural provisions to cases where no notice was served, or a notice under the primary notice route was served but no subsequent order issued before enactment; for specified charging-provision cases meeting the same timing conditions, penalty exposure is limited by a cap equal to half of the assessed service tax amount. (AI Summary)