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Section 73 of Finance Act, 1994

There are currently no known outstanding effects for the Finance Act 1994, Section 73. Changes to Legislation. Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial. Show cause notice under Section 73(1) Section 73(1) of the Finance Act, 1994 ('Act' for short) provides that where any service tax has not been levied or paid or has been short-levied or short-paid or erroneously refunded, the Central Excise Officer may, within eighteen months from the relevant date, serve notice on the person chargeable with the service tax which has not been levied or. Section 73 (1B) was inserted in the Finance Act, 2015 with effect from 14.05.2015. The said section provides that where the amount of service tax payable has been self-assessed in the return furnished under Section 70 (1) , but not paid either in full or in part, the same shall be recovered along with interest thereon in any of the modes. Section 73A - Service Tax Collected from any person to be deposited with Central Government - Chapter V of Finance Act, 1994 Chapter V of Finance Act, 1994 1 73A

Section 73 of the Finance Act, 1994 relates to the issue of show cause notice and confirmation of demand. Under existing provisions where the appellate authority finds that the demand is confirmable on merits, however, extended period is not invokable, then the entire demand raised in the show cause notice is quashed SERVICE TAX ACT Chapter V of the Finance Act, 1994 [As on 1-4-2017] SECTION 64. Extent, commencement and application -. (1) This Chapter extends to the whole of India except the State of Jammu and Kashmir. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint The Board may, if it objects to any order passed by the Commissioner of Central Excise under Section 73 or Section 83 or section 84, direct the Commissioner of Central Excise to appeal to the Appellate Tribunal against the order. Chapter V of the Finance Act, 1994. Get Sample Now. Which service(s) are you interested in? Export Data Import.

Finance Act 1994 - Legislation

Amendment of section 39B (relief in relation to income from certain trading operations carried on in Custom House Docks Area) of Finance Act, 1980. 54. Amendment of Chapter VI (Corporation tax: relief in relation to certain income of manufacturing companies) of Finance Act, 1980. 55. Amendment of section 44 (group dividends) of Finance Act. The assessee has paid both the service tax and interest for delayed payments before issue of show cause notice under the Act. Sub-Sec.(3) of Sec. 73 of the Finance Act, 1994 categorically states, after the payment of service tax and interest is made and the said information is furnished to the authorities, then the authorities shall not serve any notice under Sub-Sec.(1) in respect of the. One of the lesser talked about changes in the Budget, 2015 came in the form of an Amendment to Section 73 of the Finance Act, 1994 where by the following sub-section is being inserted (w.e.f. enactment of Finance Bill, 2015) Section 73(3) of the Finance Act, 1994 for avoiding penalty and non‐issuance of Show. cause notice. • In cases of delay /short payment / erroneous refund of service tax, wherein the payment of service ta Section 73(1) of the Finance Act 1994. Profit and Loss Accounts can't be relied for Determination of Service Tax Liability: Madras HC [Read Judgment] April 13, 2018. Larger Period of Limitation for Demand of Service Tax can't be invoked without satisfying Sec 73(1) of the Finance Act 1994: CESTAT [Read Order

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By virtue of Section 73 of the Finance Act where any service tax has not been levied; or has not been paid; or has been short levied; or has been short paid; or has been erroneously refunded the Central Excise Officer may, within one year from the relevant date, serve notice on the person chargeable with the service tax which has not been. The same was assented to by the President on 14th May, 2003. By Section 158 of the Finance Act, 2003, sub-section (1) of Section 68, Sections 71, 73 and 94 of the 1994 Act were further amended. In addition to this, Section 71A of the Act was inserted with retrospective effect from 16-7-1997 Section 73 of the Finance Act has section 73 (3) read with 73 (4) which provides that if the assessee himself or on saying of the department pays the tax and interest thereon then the department will not levy any penalty on him unless the reason for short on non-payment tax was due to fraud, collusion, wilful mis-statement, suppression of facts. Finance Act, 1976; Finance Act, 1976 73.—(1) Where a vehicle to which this Part applies is used, parked or otherwise kept at any time in a public place, if while the vehicle is being so used, parked or kept there is not fixed to and exhibited on the vehicle in accordance with section 5 (5) of the Act of 1920 a licence which is both issued.

Show Cause Notice Under Service Tax Provision

  1. Chapter V of the Finance Act, 1994 As amended by the Finance Act. 1997,1998,1999,2000 and 2001 Service Tax [OLD - Chapter V of the Finance Act, 1994] 64. Extent, commencement and application: (Bold words* in section 73 has been substituted vide Finance Bill 2005-2006
  2. Legal provisions for recovery of arrears of Service Tax Section 73,73A to 73D & 87 of Finance Act,1994. 11. LEGAL PROVISIONS OF RECOVERY OF ARREARS OF SERVICE TAX FINANCE ACT, 1994. SECTION 73. Recovery of Service tax not levied or paid or short levied or short paid or erroneously.
  3. Any penalty that is levied on an assessee for evasion of service tax payment falls under the penal provisions stated within Section 76, Section 77, and Section 78 of the Finance Act, 1994. However, Section 80 of the Finance Act, 1994, states that penalties can be waived off if the assessee in question can furnish reasonable evidence or proof.
  4. However, the provisions of Section 11A of the Central Excise Act being almost identical to Section 73 of the Finance Act, 1994, there is no reason why the same principles should not apply to a show-cause notice under Section 73 of the Finance Act, 1994, in relation to a demand for service tax

1994 Finance Act, 1994 Section Chapter V of the Finance Act, 1994 Page No. Reference 64. Extent, commencement and application 8 65. Definitions 8 65A. Classification of taxable services 8 66. Charge of service tax 8 66A. Charge of service tax on services received from outside India 9 67. Valuation of taxable services for charging service tax 9 68 CHAPTER V OF FINANCE ACT, 1994 SECTION 96A. Definitions.- In this Chapter, unless the context otherwise requires,- a. advance ruling means the determination, by the Authority of a question of law or fact specified in the application regarding the liability to pay service tax in relation to a service proposed to be provided, by the. Section 87 was inserted by the Finance Act, 2006 with effect from 18.04.2006. Section 87 prescribes the procedure for the recovery of amount due to the Central Government. The words 'amount due' may be, in the context of Finance Act, 1994, as service tax due

Section 72 and Section 73 of Chapter V of Finance Act

  1. Service Tax : Section 73, 73A, 73B, 73C and 73D (Service Tax has been subsumed in GST) 3 73. Recovery of Service tax not levied or paid or short levied or short paid or erroneously refunded. 3 Substituted (w.e.f. 10.09.2004) by s.90 of the Finance (No.2)Act,2004 (23 of 2004)
  2. shall not service any notice under Section 73(1) of the Finance Act, 1994, 'in respect' of the duty and interest amount so paid and all the proceedings are concluded. [Section 73(3)] • To that extent even clarification has been issued by the department wherein it is said that if tax and interest is paid before the issue of SCN then all.
  3. The repeal in section 171 of the Finance Act 1993... 3. The repeals in section 179 of the Finance Act 1993... 4. The repeals in section 182 of the Finance Act 1993... 5. The repeal in paragraph 13(1) of Schedule 20 to the... 6. The other repeals have effect in accordance with section 228(3)... Part VI Oil taxation. 1
  4. 73. DECLARED SERVICE As per Section 66E(i) of the Finance Act, 1994, 'Service portion in an activity wherein goods, being food or any other article of human consumption or any drink (whether or not intoxicating), is supplied in any manner as a part of the activity is specified as declared service.' 74
  5. [Refer Section 73(3) of Finance Act, 1994]. However, sub-section (3) of Section 73 of Finance Act, 1994, is not applicable to the cases involving fraud or collusion or wilful mis-statement or suppression of facts or contraventions of any of the provisions of Chapter V of the Finance Act, 1994 and the rules made thereunder with intent to evade.
  6. Clarification reg. the provision of Section 73, 76 and 78 of Finance Act, 1994 and Section 11AC of the Central Excise Act, 1944 after amendments made vide Finance Act, 2015: Date: 03 Sep 2015: Department / Organisation : Dept. of Revenue: Name Of the Ministry : Ministry of Finance: Notification / Public Notice /Circular Number

Section 73A - Service Tax Collected from any person to be

  1. Related Posts. Seeks to prescribe interest rate under section 75 of the Finance Act, 1994 Mar 01, 2016; Section 65(105)(zm) of the Finance Act, 1994 Banking and Other Financial Services Service tax on Commitment charges collected by Banks Feb 27, 2012; Seeks to bring into effect provisions of clause (h) of section 107 of the Finance Act, 2015 Mar 01, 201
  2. g into force of the Finance Act, 2015, where no notice under the proviso to sub-section (1) of section 73 has been served on any person or, where so served, no order has been passed under sub-section (2) of section 73.
  3. In view of this, the Appellant cannot be accused of suppression of facts with intent to evade the payment of service tax, even if he did not file the service tax returns. In view of this, only the normal limitation period under Section 73(1) of the Finance Act, 1994 would be available to the Revenue for recovery of non-paid service tax, if any. 7
  4. g provision wherein if specified conditions are satisfied, purchase and sale of shares are deemed speculation activities

Service Tax - Sec. 73(2A) - Revenue To Follow 'Something ..

4. In case any of the aforesaid conditions is not fulfilled, rebate paid, if any, shall be recoverable with interest in accordance with the provisions of section 73 and section 75 of the Finance Act, 1994. 5. Amount of rebate claimed is not less than Rs 1,000 defined in section 1 of the Intelligence Services Act, 1994; Agency means the Agency as defined in section 1 of the Intelligence Services Act, 1994; [Definition of Agency inserted by s.€32€(1) of Act No. 38 of 1994.] Acts / Labour / PUBLIC SERVICE ACT, 1994 / 1.€€€Interpretation.—(1)€€In this Act, Consequent to the amendments made to Section 73, 76 and 78 of the Finance Act, 1994 and Section 11AC of the Central Excise Act, 1944 vide Finance Act, 2015, field formations have sought certain clarifications with regard to detections made during audit, investigation or scrutiny

  1. Section 73 of the Finance Act, 1994 - Recovery of service tax not levied or paid or short-levied or short-paid or erroneously refunded - Period 2000-01 to 2003-04 - Stay order - Revenue through show-cause notice dated 18-10-2006, demanded service tax from assessee for relevant period in respect of services provided to 'C' Ltd. under.
  2. his order dated 23.2.05, confirmed the demand notice issued to the appellants amounting to rs. 4,89,65,321/- under section 73(1)(a) of the finance act, 1994: me imposed a penalty of rs. 500/- under section 75a of the said act for failure to obtain registration under service tax;.
  3. Section 87 was inserted by the Finance Act, 2006 with effect from 18.04.2006. Section 87prescribes the procedure for the recovery of amount due to the Central Government. The words 'amount due' may be, in the context of Finance Act, 1994, as service tax due
  4. Amendment in Section 73 of The Finance Act, 1994 10 ¾ The limitation period for recovery of Service Tax not levied or paid or short-levied or short paid or erroneously refunded, for cases not involving fraud, collusion, suppression etc is proposed to be increased from eighteen months to thirty months..

Amendments brought in by Finance Act, 2016 AMENDMENTS MADE IN INDIRECT TAX LAW Amendments relating to Customs 1. In the Customs Act, 1962 (hereinafter referred to as the Customs Act), in section 2,-- (i) for clause (43), the following clause shall be substituted, namely:- Section 76 of the Finance Act, 1994 - Penalty - For failure to pay service tax - Period April, 1999 to September, 2002 - Whether principle laid down in UOI v. Dharmendra Textile Processors [2008] 166 Taxman 65, that penalty under section 11AC of Central Excise Act, 1944, could not be avoided on ground that duty amount was paid by assessee prior.

Service Tax Chapter-V of The Finance Act 1994 (As Amended

  1. The Supreme Court has upheld the decision of Delhi High Court which held that following the procedure under Section 73A(3) and (4) of the Finance Act 1994 is compulsory before arresting a person.
  2. (b) in section 15, in sub-section (l), for the words stilCharge, not the words ten percent surcharge shall exceeding ten percent, be substituted. In the Sindh Finance Act, 1994, for Ille existing Schedule, the Amendment in following shall be substituted: SC11E1)tJLE (See section 9) Schedule of Sindh Finance Act 1994. Amendment in Act X Il o
  3. e whether a person is liable to pay service.
  4. section 73 of the Finance Act, 1994. (Clauses 149 of the Finance Bill, 2016 refers) E. Amendment to section 75 of Finance Act Section 75 of the Finance Act is proposed to be amended so that a higher rate of interest would apply to a person who has collected the amount of service tax from the service recipient but not deposited the same with th
  5. g fiction of law. It provides the lawmakers with an arbitrary power to declare any activity as a service. Section 65B(22) defines the declared service as any activity carried out by a person for another.
  6. -73 - 73A of Finance Act, 1994 7 Assessees being audited under the provisions of Finance Act, 1994 and such audit is pending as on 1 March 2013 No 8 Assessees against whom inquiry / investigation has been initiated and is pending as on 1 March 2013 under : No i. Section 72 of Finance Act, 1994 ii. Rule5A of Service Tax Rules, 1994 iii
  7. Amendment of Act 32 of 1994. 138. In the Finance Act, 1994,— (a) in section 71, in sub-section (1), after the words and figures under section 70, the words after obtaining a written permission from the Commissioner of Central Excise, shall be inserted; (b) in section 73, the following E xplanation shall be inserted at the end, namely :

Finance Act, 1994 - Irish Statute Boo

106. Amendment of Act 32 of 1994. CHAPTER VI MISCELLANEOUS 107. Amendment of Act 14 of 2001. 108. Amendment of section 13 of Act 58 of 2002. 109. Amendment of Finance (No.2) Act, 2004. 110. Amendment of Act 18 of 2005. 111. Amendment of Act 14 of 2010. 112. Repeal. THE FIRST SCHEDULE. THE SECOND SCHEDULE. THE THIRD SCHEDULE. THE FOURTH SCHEDULE. Chairman CBIC and Members of the Board called on Hon'ble Finance Minister and presented a memento on GST Day, 2020 Chairman CBIC visits Air Cargo Shed, Delhi Customs to take stock of cargo movement due to disruptions caused due to #COVID19 V of the Finance Act, 1994 and in terms of Section 11AC of the Central Excise Act, 1994, the penalty was equal to hundred per cent of the amount of such tax or duty. However, in all other cases, in terms of Section 76 under Chapter V of the Finance Act, 1994, the penalty was not exceeding ten per cent of the amount of such tax

Amendments In Finance Act, 1994 & Exemptions Details Last Updated: Wednesday, 22 February 2017 12:08 Published: Monday, 25 November 2013 09:40 Written by Kaushalya Kumar Authority for levy (charging section) 4.1 The authority for levy of service tax on specified services was contained in Section 66 of the Finance Act, 1994. With effect from 01.07.2012, the authority for levy of service tax was contained in Section 66B of the Finance Act, 1994 which stipulated a rate of 14 per cen ACT NO. 2 OF 1994 An Act to amend the Income Tax Order, 1993 Enacted by the Parliament of Lesotho. Short title 1. This Act may be cited as 'the Income Tax (Amendment) Act, 1994. Commencement 2. (1) Subject to subsection (2), this Act shall come into operation on the date of its publication in the Gazette. Section 73 of the Principal Law is.

Rule 14 of the Cenvat Credit Rules, 2004 provided that where credit has been taken or utilized wrongly, the same shall be recovered with interest in terms of Section 11AA of the Central Excise Act, 1944 / Section 75 of the Finance Act, 1994 Section 81(3) has an implied time limit in it as a result of the fact that it is limited to liabilities that we are in time to assess under, for example section 73 of the VAT Act 1994 Expression 'verify' in Section 94 (2) (k) of the Act cannot be construed as audit of the accounts of an Assessee and, therefore, Rule 5A(2) cannot be sustained with reference to Section 94(2)(k) of the Act; Circular No. 181/7/2014-ST dated 10.12.2014 is ultra vires the Act and is struck down Section 68 of Finance Act, 1994 - Payment of Service Tax. By Paras Mehra (6.6K Views) June 3, 2016. Introduction. Section 68 provides for payment of service tax to the central government. Section 68 only provides that every person providing taxable service to any person shall pay service tax at the rate specified in section 66B 3.2 In this context, an amendment is being made in section 66B of the Finance Act, 1994. Further, it has been provided vide clauses 179 and 187 respectively of the Finance Bill, 2015 that sections 95 of the Finance Act, 2004 and 140 of the Finance Act, 2007, levying Education Cess and Secondary and Highe

Service Tax - When tax with interest is paid u/s

(B) in section 66B, the Explanation shall be omitted; (C)after section 66B, the following section shall be inserted, namely:- 66BA. Reference to section 66 to be construed as reference to section 66B.—(1) For the purpose of levy and collection of service tax, any reference to section 66 in the Finance Act, 1994 (32 of 1994) or any other Act for the time being in force, shall be construed. Failure by a Driver to Have a Tax Disc Fixed and Displayed on the Windscreen of a Vehicle - Section 73 of the Finance Act 1976; Particulars Relating to and Transfers of Certain Vehicles to be Furnished to Licensing Authorities -Section 67 of the Finance Act 1976; Using a Vehicle without a Test Certificate -Section 18 of the Road Traffic.

Explain the differences between the concept of coercion under section 15 and section 73 of Contract Act 1950 with the concept of duress and economic duress under Common Law. In your opinion does the concept of economic duress is suitable to be applied in Malaysia? Please refer to decided cases in your answers. Answer: The definition of coercion in S.15 should only apply for the purpose.

Video: Service Tax Section 73(1B

Section 73(1) of the Finance Act 1994 Taxscan

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