Assessee Can Settle Outstanding Service Tax with Interest and 25% Penalty per Section 78(1) Finance Act, 1994.

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....Levy of Penalty u/s 78 of the Finance Act, 1994 - The assessee/appellant has the option to deposit the balance service tax together with accumulated interest and penalty of 25% of the entire tax due, within the period indicated in the third proviso to Section 78(1). - HC....