Penalties u/s 78 of the Finance Act set aside after appellant paid service tax with interest; deemed unjustified.

Penalties u/s 78 of the Finance Act set aside after appellant paid service tax with interest; deemed unjustified. https://www.taxtmi.com/highlights?id=60292 Levy of penalty u/s 78 of FA - services received from abroad, but service tax not paid - even if the appellant pays service tax, they would be eligible for the credit and the situation is entirely revenue-neutral. The appellant has paid service tax along with interest - Taking into consideration all these aspects, it is opined that the penalties cannot sustain and the same require to be set aside - penalties set aside. - AT en-us Fri, 29 Oct 2021 04:48:45 +0530 Fri, 29 Oct 2021 04:48:45 +0530 TaxTMI RSS Generator Penalties u/s 78 of the Finance Act set aside after appellant paid service tax with interest; deemed unjustified. https://www.taxtmi.com/highlights?id=60292 Levy of penalty u/s 78 of FA - services received from abroad, but service tax not paid - even if the appellant pays service tax, they would be eligible for the credit and the situation is entirely revenue-neutral. The appellant has paid service tax along with interest - Taking into consideration all these aspects, it is opined that the penalties cannot sustain and the same require to be set aside - penalties set aside. - AT Highlights Service Tax Fri, 29 Oct 2021 04:48:45 +0530 https://www.taxtmi.com/highlights?id=60292