no penalty for delayed payment of service tax in Mahrashtra and Gujarat

As you are aware the States of Maharashtra and Gujarat have been adversely affected by the impact of unprecedented rains resulting in widespread water logging, floods and landslides.
2. Board have received representations from certain associations of service tax payers in these states requesting for extension of date for depositing service tax for the month of July, 2005, due for payment on 5th August. The matter has been examined.
3. Section 75 of the Finance Act, 1994 envisages payment of interest on delayed payment of service tax. Section 76 provides for imposition of penalty in cases of delayed payment of service tax. Section 80 specifically mentions that no penalty shall be imposed under section 76 for delayed payment of service tax if the assessee proves that there was reasonable cause for the delay in payment of service tax within the due date.
4. In view of the unprecedented rains and floods and consequent difficulties faced by the assessees in Mahrashtra and Gujarat, for delayed payment of service tax due for the month of July, 2005, paid on or before 20th August, 2005, you are advised to take a lenient view under section 80 and impose no penalty under section 76 of the Finance Act, 1994. This facility may be provided only for assessees who discharge their full liability for payment of service tax for the month of July' 2005 on or before 20th August, 2005.

Cost Inflation Index for Financial Year 2005-06

Dear friends,
This is to inform you that the Cost Inflation Index for the Financial Year 2005-06 is "497".
Not. 189/2005, Dated: August 12, 2005

Date of FBTs First Installment Payment extended

The date of Payment of First Installment of FBT has been extended to 31st August 2005.