https://www.taxtmi.com/article/detailed?id=6288 Amendments to Rule 15 align penal provisions with the Finance Act, 2015 by introducing a rationalised penalty framework: lower capped penalties for non-culpable shortfalls with waivers for prompt payment, higher penalties for culpable conduct subject to substantial reductions on early payment, and transitional settlement mechanisms for pending and pre-enactment show cause notices adjudicated post-enactment. The changes also remove the requirement of specified records for issuing reduced-penalty notices and specify the relevant date for recovery when only interest is demanded. en-us Mon, 01 Jun 2015 16:41:14 +0530 Mon, 01 Jun 2015 16:41:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6288 Amendments to Rule 15 align penal provisions with the Finance Act, 2015 by introducing a rationalised penalty framework: lower capped penalties for non-culpable shortfalls with waivers for prompt payment, higher penalties for culpable conduct subject to substantial reductions on early payment, and transitional settlement mechanisms for pending and pre-enactment show cause notices adjudicated post-enactment. The changes also remove the requirement of specified records for issuing reduced-penalty notices and specify the relevant date for recovery when only interest is demanded. Articles Service Tax Mon, 01 Jun 2015 16:41:14 +0530 https://www.taxtmi.com/article/detailed?id=6288