https://www.taxtmi.com/acts?id=601 Failure to pay, short-pay, short-levy or erroneous refund of service tax, absent fraud, collusion, wilful mis-statement, suppression of facts or intentional contravention to evade tax, attracts a penalty in addition to service tax and interest capped at ten per cent. Payments of tax and interest made within a prescribed short period from service of notice attract waiver of the penalty, and payments within a similar period after an assessment order qualify for a reduced penalty. Appeals that increase penalty reset the period for the reduced payment option from the date of the appellate or judicial order. en-us Sat, 19 Jan 2008 22:45:54 +0530 Mon, 08 May 2017 12:45:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=601 Failure to pay, short-pay, short-levy or erroneous refund of service tax, absent fraud, collusion, wilful mis-statement, suppression of facts or intentional contravention to evade tax, attracts a penalty in addition to service tax and interest capped at ten per cent. Payments of tax and interest made within a prescribed short period from service of notice attract waiver of the penalty, and payments within a similar period after an assessment order qualify for a reduced penalty. Appeals that increase penalty reset the period for the reduced payment option from the date of the appellate or judicial order. Act-Rules F. Acts / Amendment Acts Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=601