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of <h1>Section 78A of Finance Bill, 2013 imposes penalties on directors for service tax evasion and misuse of tax credits.</h1> Section 78A of the Finance Bill, 2013 introduces penalties for company directors and officers involved in specific service tax contraventions. These include evasion of service tax, issuing invoices without providing taxable services, misusing tax credits without receiving services or goods, and failing to remit collected service tax to the Central Government within six months of the due date. Any director, manager, secretary, or officer responsible for and knowingly involved in these violations may face penalties up to one lakh rupees. This provision aims to hold accountable those in charge of company operations during such contraventions.
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