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of <h1>Section 72A of Finance Act: Special Audit for Service Tax Irregularities by Commissioner Using Chartered Accountant</h1> Section 72A of the Finance Act, 1994, authorizes the Principal Commissioner or Commissioner of Central Excise to mandate a special audit if there are reasons to believe that a person liable for service tax has not correctly declared the value of taxable services, improperly utilized tax credits, or has complex operations that obscure a clear account view. The audit must be conducted by a nominated chartered or cost accountant, and the findings are reported back to the Commissioner. The audited party must be given a chance to respond to any findings before they are used in further proceedings.
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