Insertion of new section 72A - Special audit.

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....hat any person liable to pay service tax (herein referred to as ''such person''),--            (i) has failed to declare or determine the value of a taxable service correctly; or            (ii) has availed and utilised credit of duty or tax paid-         ....

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....is accounts audited by a chartered accountant or cost accountant nominated by him, to the extent and for the period as may be specified by the Commissioner.       (2) The chartered accountant or cost accountant referred to in sub-section (1) shall, within the period specified by the said Commissioner, submit a report duly signed and certified by him to the said Commissi....