Substitution of new section for section 76
Section 113 of the Finance Act, 2015 deals with substitution of new section for section 76. Substitution of new section for section 76 113.
Substitution of new section for section 76
113. For section 76 of the 1994 Act, the following section shall be substituted, namely:—
"76. Penalty for failure to pay service tax - (1) Where service tax has not been levied or paid, or has been short-levied or short-paid, or erroneously refunded, for any reason, other than the reason of fraud or collusion or wilful mis-statement or suppression of facts or contravention of any of the provisions of this Chapter or of the rules made thereunder with the intent to evade payment of service tax, the person who has been served notice under sub-section (1) of section 73 shall, in addition to the service tax and interest specified in the notice, be also liable to pay a penalty not exceeding ten per cent of the amount of such service tax:
Provided that where service tax and interest is paid within a period of thirty days of—
(i) the date of service of notice under sub-section (1) of section 73, no penalty shall be payable and proceedings in respect of such service tax and interest shall be deemed to be concluded; (ii) the date of receipt of the order of the Central Excise Officer determining the amount of service tax under sub-section (2) of section 73, the penalty payable shall be twenty-five per cent of the penalty imposed in that order, only if such reduced penalty is also paid within such period. (2) Where the amount of penalty is increased by the Commissioner (Appeals), the Appellate Tribunal or the court, as the case may be, over the above the amount as determined under sub-section (2) of section 73, the time within which the reduced penalty is payable under clause (ii) of the proviso to sub-section (1) in relation to such increased amount of penalty shall be counted from the date of the order of the Commissioner (Appeals), the Appellate Tribunal or the court, as the case may be.".
Section 113, The Finance Act, 2015 (Act 20 of 2015).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
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Questions about Section 113
What does Section 113 of the Finance Act deal with?
Section 113 of the Finance Act is headed "Substitution of new section for section 76". Substitution of new section for section 76 113.
How do I find court cases under Section 113 of the Finance Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2015 113, section 113 Finance Act 2015, section 113 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 113 of the Finance Act, and has it changed?
Its own text turns on section 73 (Insertion of new section 271FAB), section 76 (Amendment of section 272A), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 2015 as Act 20 of 2015. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. First Schedule8029 words
- Fifth Schedule. Fifth Schedule4392 words
- 2. Income-tax3525 words
- 94. Substitution of new section for section 11AC1125 words
- 6. Insertion of new section 9A1095 words
- 5. Amendment of section 91039 words
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