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Facts Penalty u/s.76 was levied against the appellants in respect of the delay in payment of service tax on GTA services. The appellants claimed that the delay in payment of service tax was on account of financial problems. The respondents claimed that the penalty can be waived only if the delay is caused on account of the reasons mentioned u/s. 80 which are not present in the case.
Held
Except financial problems, no other reason was offered by the appellants. The reason of financial difficulty is not a valid reason for waiver of penalty u/s.80.
