https://www.taxtmi.com/article/detailed?id=5782 Amendment to Section 80 removes its reference to the first proviso to section 78, eliminating the adjudicating authority's power to waive penalty where the proviso reduces penalty because true and complete transaction details exist in an assessee's records. As a result, eligible taxpayers may obtain only the statutory reduction under the proviso and not further discretionary remission under Section 80, increasing penalty exposure for otherwise bona fide failures to pay service tax. en-us Thu, 14 Aug 2014 07:40:26 +0530 Thu, 14 Aug 2014 07:40:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5782 Amendment to Section 80 removes its reference to the first proviso to section 78, eliminating the adjudicating authority's power to waive penalty where the proviso reduces penalty because true and complete transaction details exist in an assessee's records. As a result, eligible taxpayers may obtain only the statutory reduction under the proviso and not further discretionary remission under Section 80, increasing penalty exposure for otherwise bona fide failures to pay service tax. Articles Service Tax Thu, 14 Aug 2014 07:40:26 +0530 https://www.taxtmi.com/article/detailed?id=5782