2% Penal interest charged over applicable interest rate not Subject to Service Tax u/s 66E (e) of Finance Act, 1994: CESTAT [Read Order]

The CESTAT held that no service tax can be levied on the liquidated damages/penal interest charged by the respondent

By Saagarika Gopinath - On November 13, 2024 10:44 am - 2 mins read

CESTAT - CESTAT Delhi - Customs - Finance Act - Service Tax - TAXSCAN

In a recent ruling, the Delhi bench of the Customs, Excise & Service Tax Appellate Tribunal ( CESTAT ) held that the 2% penal interest charged over the applicable interest rate was not subject to service tax under Section 66 E(e) of the Finance Act, 1994. The revenue has appealed against the order passed by…

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