Garima Pal
asked
Is there any provision to waive the penalty under Service Tax law?
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Shubhangi Jain
answered
The penal provisions under Service Tax are provided under Sections 76, 77 and 78 of Finance Act, 1994. Although the penalty is liable to be imposed for the circumstances covered under the said provisions, the Section 80 of the Finance Act, 1994, provides provisions not to impose penalty, for any failure referred to in the said provisions, if the Service Tax assessee proves that there was sufficient cause for such failure. Lack of funds or time is not construed as ‘sufficient cause’.
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lochan
answered
The penal provisions under Service Tax are provided under Sections 76, 77 and 78 of Finance Act, 1994. Although the penalty is liable to be imposed for the circumstances covered under the said provisions, the Section 80 of the Finance Act, 1994, provides provisions not to impose penalty, for any failure referred to in the said provisions, if the Service Tax assessee proves that there was sufficient cause for such failure.
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Aarti Vadnerkar
answered
Dear
The penal provisions under Service Tax are provided under Sections 76, 77
and 78 of Finance Act, 1994. Although the penalty is liable to be imposed for
the circumstances covered under the said provisions, the Section 80 of the
Finance Act, 1994, provides provisions not to impose penalty, for any failure
referred to in the said provisions, if the Service Tax assessee proves that
there was sufficient cause for such failure.
