https://www.taxtmi.com/caselaws?id=270468 The Tribunal found the appellant liable to pay service tax under section 66A of the Finance Act, 1994, for merchant banking services provided from outside India and received in India. Penalties under sections 76 and 77, as well as an equivalent penalty under Section 78, were imposed. The appellant paid the service tax amount under protest and a portion of the penalty promptly. The Tribunal granted a waiver of penalty under section 80 of the Finance Act due to the appellant's genuine belief in non-liability, prompt payment, and the availability of Cenvat credit. The appeal was partially allowed, waiving penalties but upholding the service tax demand and interest. en-us Tue, 24 Nov 2015 00:00:00 +0530 Wed, 14 Sep 2016 15:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270468 The Tribunal found the appellant liable to pay service tax under section 66A of the Finance Act, 1994, for merchant banking services provided from outside India and received in India. Penalties under sections 76 and 77, as well as an equivalent penalty under Section 78, were imposed. The appellant paid the service tax amount under protest and a portion of the penalty promptly. The Tribunal granted a waiver of penalty under section 80 of the Finance Act due to the appellant's genuine belief in non-liability, prompt payment, and the availability of Cenvat credit. The appeal was partially allowed, waiving penalties but upholding the service tax demand and interest. Case-Laws Service Tax Tue, 24 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270468