https://www.taxtmi.com/caselaws?id=240280 The Tribunal upheld the imposition of a penalty under sections 76 & 78 of the Finance Act, 1994 for evasion of service tax by a construction services company. Despite the appellant's ignorance of tax law changes, the penalty waiver was denied, emphasizing the need for compliance. The Tribunal reduced the penalty amount to fifty percent of the service tax due, considering the circumstances and the appellant's efforts towards compliance. This case underscores the importance of timely registration, compliance with tax regulations, and the consequences of non-compliance, even in cases of bonafide belief. en-us Wed, 20 Nov 2013 00:00:00 +0530 Thu, 10 Sep 2015 10:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240280 The Tribunal upheld the imposition of a penalty under sections 76 & 78 of the Finance Act, 1994 for evasion of service tax by a construction services company. Despite the appellant's ignorance of tax law changes, the penalty waiver was denied, emphasizing the need for compliance. The Tribunal reduced the penalty amount to fifty percent of the service tax due, considering the circumstances and the appellant's efforts towards compliance. This case underscores the importance of timely registration, compliance with tax regulations, and the consequences of non-compliance, even in cases of bonafide belief. Case-Laws Service Tax Wed, 20 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240280