https://www.taxtmi.com/article/detailed?id=1522 A statutory scheme provides a penalty for delayed payment of service tax and a separate penalty for nonpayment due to fraud, misstatement or suppression; legislative amendment and explanatory notes indicate that where the fraud/suppression penalty is leviable, the delayed payment penalty should not apply, and recent tribunal and high court authorities have construed the provisions purposively to preclude simultaneous levy of both penalties for the same default, on equity and legislative intent grounds. en-us Wed, 30 Nov 2011 06:59:08 +0530 Wed, 30 Nov 2011 06:59:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1522 A statutory scheme provides a penalty for delayed payment of service tax and a separate penalty for nonpayment due to fraud, misstatement or suppression; legislative amendment and explanatory notes indicate that where the fraud/suppression penalty is leviable, the delayed payment penalty should not apply, and recent tribunal and high court authorities have construed the provisions purposively to preclude simultaneous levy of both penalties for the same default, on equity and legislative intent grounds. Articles Service Tax Wed, 30 Nov 2011 06:59:08 +0530 https://www.taxtmi.com/article/detailed?id=1522