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of <h1>Finance Act 1994: Service Tax Evasion Penalties Include Up to 7 Years Imprisonment; No Leniency for First-Time Offenders.</h1> Section 89 of the Finance Act, 1994, outlines offences related to service tax evasion and associated penalties. Offences include knowingly evading tax, misusing tax credits, maintaining false records, or failing to remit collected taxes. Penalties vary based on the offence and amount involved, with imprisonment terms ranging from one to seven years. Repeat offenders face increased penalties. Certain factors, such as being a first-time offender or not being the principal offender, are not considered valid reasons for reducing imprisonment below six months. Prosecution requires prior sanction from the Chief Commissioner of Central Excise.
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