https://www.taxtmi.com/article/detailed?id=6127 Amendments replace the earlier penalty structure by fixing the primary penalty at full tax where defaults arise from fraud, collusion, wilful misstatement, suppression of facts or contravention with intent to evade, while creating an early-payment concession that substantially reduces penalty if tax, interest and the reduced penalty are paid within a short prescribed period; prior safeguards-record-traceable fifty per cent reduction, extended payment window for small providers, and waiver powers-have been removed, and penalty modification on appellate adjustment is preserved. en-us Mon, 02 Mar 2015 13:59:40 +0530 Mon, 02 Mar 2015 16:54:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6127 Amendments replace the earlier penalty structure by fixing the primary penalty at full tax where defaults arise from fraud, collusion, wilful misstatement, suppression of facts or contravention with intent to evade, while creating an early-payment concession that substantially reduces penalty if tax, interest and the reduced penalty are paid within a short prescribed period; prior safeguards-record-traceable fifty per cent reduction, extended payment window for small providers, and waiver powers-have been removed, and penalty modification on appellate adjustment is preserved. Articles Service Tax Mon, 02 Mar 2015 13:59:40 +0530 https://www.taxtmi.com/article/detailed?id=6127