Penalty provisions under the Finance Act, 1994 (Service Tax) and Central Excise Act, 1944 have been rationalised vide the Finance Act, 2015. Such provisions have been effective from May 14, 2015. Cases not involving where fraud or collusion or wilful mis-statement or suppression of facts or contravention of the provisions with the intent to evade … Continue reading CBEC Clarification with regard to issuance of Show Cause Notices and adjudication thereof after the amended penal provisions