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of <h1>Personal penalty on company officers under Section 78A Finance Act for knowing involvement in key service tax violations</h1> Section 78A of the Finance Act, 1994 imposes personal penalty on directors, managers, secretaries, or other officers of a company if the company commits specified service tax contraventions and such persons were in charge, responsible for business conduct, and knowingly concerned with the contravention. Covered contraventions include evasion of service tax, issuing invoices or challans without providing taxable services, wrongful availment or utilisation of tax or duty credit without actual receipt of services or goods, and failure to remit collected service tax to the Central Government for more than six months. The penalty may extend to one lakh rupees. Certain concluded tax proceedings also conclude related proceedings under this section.
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