Appellate Order To Effect Penalty

no penalty shall be payable if duty and interest payable thereon under section 11AA is paid within 30 days of issue of show cause notice

c) the penalty will be reduced to 25% provided the 25% of the penalty out of total penalty imposed alongwith duty and interest is paid within 30 days of the date of communication of such order.
2. evasion or non payment with suppression

a) a penalty equal to the duty so determined shall be payable.

b) for the period beginning with 8th April, 2011 and upto the date of assent to the Finance Bill, 2015, the penalty payable shall be 50% of the duty so determined provided details of transactions of evasion are recorded

c) 15% penalty shall be payable, of the duty determined, if duty and interest payable thereon under section 11AA is paid within 30 days of issue of show cause notice

d) the penalty will be reduced to 25% provided the 25% of the penalty out of total penalty imposed alongwith duty and interest is paid within 30 days of the date of communication of such order.

Appellate Order To Effect Penalty

a. If duty is reduced by way of an order of Tribunal or Appellate authority then , percentage of penalty shall reduce accordingly depending upon the class of evasion as enumerated above i.e evasion with suppression or evasion without suppression .

b. If duty is increased by way of an order of Tribunal or Appellate authority then , percentage of penalty shall increase accordingly depending upon the class of evasion as enumerated above i.e evasion with suppression or evasion without suppression .