https://www.taxtmi.com/caselaws?id=439834 The Tribunal upheld the leviability of service tax on reinsurance premiums paid abroad and received domestically. The Appellant's payment of the service tax amount before the notice and under provisional assessment did not exempt them from penalty. However, the Tribunal found that no penalty was imposable under Section 78 of the Finance Act, 1994, as the Appellant promptly paid the tax upon clarification. The impugned order was set aside, the appeal was allowed, and the Department's appeal for penalty was rejected. en-us Wed, 28 Jun 2023 00:00:00 +0530 Mon, 03 Jul 2023 18:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439834 The Tribunal upheld the leviability of service tax on reinsurance premiums paid abroad and received domestically. The Appellant's payment of the service tax amount before the notice and under provisional assessment did not exempt them from penalty. However, the Tribunal found that no penalty was imposable under Section 78 of the Finance Act, 1994, as the Appellant promptly paid the tax upon clarification. The impugned order was set aside, the appeal was allowed, and the Department's appeal for penalty was rejected. Case-Laws Service Tax Wed, 28 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439834