Wednesday, 26 August 2015

Reduced penalty shall be recomputed when duty demand is recomputed

Service Tax/Excise/Customs : A direction to recompute tax liability and consequent penalty, would mean : (i) recomputation of tax liability/demand, (ii) recomputation of penalty imposable in law; and (iii) redetermination of benefit of payment of reduced 25 per cent penalty

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