2009 (1) TMI 758

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.... ORDER By this stay application, the applicant is seeking waiver of pre-deposit of the service tax amount of Rs. 3,06,56,691/- along with interest under Section 75 of the Finance Act, 1994 and equivalent penalty under Section 78, apart from a penalty of Rs. 200/- for every day during the failure to pay the service tax under Section 76 of the Finance Act, 1994. 2. Heard both the sides in the matt....

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....ons of rules of Cenvat Credit Rules, 2004 for restricting the credit. 5. The learned SDR submits that the applicant had utilized the input credit for discharging the 'port services' and they were also rendering services of income which are not non-taxable. 6. On a careful consideration of the matter, we find that the restriction can be imposed by the Revenue on the applicant to avail 20% of the ....