2013 (8) TMI 642

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....T. COMMR.) ORDER Per Dr. D. M. Misra; This is an Application seeking waiver of predeposit of service tax of Rs.1,07,46,439/- and penalty of Rs.5,000/- under Section 77 of the Finance Act, 1994. 2. The ld. Chartered Accountant has stated that the Applicant are engaged in providing 'Commercial or Industrial Construction Service' in respect of construction of residential complex and 'Work....

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....by them as 4% instead of the applicable rate of service tax @12%/10%. However, he fairly conceded that there was no mention about the said rate in the ST-3 return. The ld. CA further submitted that the Applicant Company is a Partnership Firm and the Concern as a whole has been facing severe financial crisis. In these circumstances, the Applicant are not able to predeposit the entire dues adjudged.....

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....is made by them, should be in accordance with law. In the present case, when there is a specific provision for exercising option in regard to payment of service tax at a concessional rate, in absence of exercising any such option, the Applicant would not be entitled to avail the benefit of the said Rules. 4. Heard both sides and perused the records. Undisputedly, the Applicant has been renderin....

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............. (2).......................................... (3) The provider of taxable service who opts to pay service tax under these rules shall exercise such option in respect of a works contract prior to payment of service tax in respect of the said works contract and the option so exercised shall be applicable for the entire works contract and shall not be withdrawn until the completion of....