TaxTMI 
TaxTMI 
TaxTMI 
Amendment in 73(3) by Explanation 2 - Issuance of SCN when full tax deposited with interest
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....mendment in 73(3) by Explanation 2 - Issuance of SCN when full tax deposited with interest<br> Query (Issue) Started By: - Jain Jain Dated:- 26-2-2010 Last Reply Date:- 4-3-2010 Service Tax<br>Got 2 R....
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....eplies<br>Service Tax<br>Please ref. to prepossed amendment in 73(3) by way of explanation 2. Does it mean that no show-cause notice can be issued,if full tax along with interest has been deposited b....
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....efore the issue of show cause notice. Reply By rakesh chitkara: The Reply: Yes. That is the new amendment. Primarily aimed at on the spot deposit made at the instance of Audit parites and Anti-evasion....
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.... teams. But it is only for normal period of 1 year, that is the sad part. Reply By Rama Krishana: The Reply: Earlier there was specific provision that where service tax has been deposited alongwith ....
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....interest, in such case no show cause notice (SCN) be issued. But there was no such clause that no penalty would be levied. Now, the provision has been amended to specify that no penalty shall be levie....
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....d where service has been deposited with interest. Therefore, the exercise of issuance of show cause notice would become infructuous itself. But, as Mr. Rakesh Chitkara has pointed out it is for the no....
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....rmal period of one year only. In case u accept, admit and deposit the demand of service tax for a period which is beyond the normal period of limitation of one year, it means, you are inviting the sho....
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....w cause notice<br> Discussion Forum - Knowledge Sharing ....