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of <h1>Company Officers Face Penalties Under Section 78A of Finance Act for Service Tax Evasion and Misconduct.</h1> Section 78A of the Finance Act, 1994, imposes penalties on company officers responsible for certain contraventions related to service tax. If a company evades service tax, issues invoices without providing taxable services, improperly utilizes tax credits, or fails to remit collected service tax to the government within six months, liable officers such as directors or managers may face penalties up to one lakh rupees. The section clarifies that proceedings related to service tax discrepancies, if concluded under specified provisions, will also conclude any pending actions against individuals under this section.
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