Section 124 of CGST Act 2017: Fine for Failure to Furnish Statistics
Provisions under Section 124 of the Central Goods and Services Tax (CGST) Act, 2017 relating to “Fine for Failure to Furnish Statistics”, are as under:
Section 124 of CGST Act 2017: Fine for Failure to Furnish Statistics (CHAPTER XIX – OFFENCES AND PENALTIES)
If any person required to furnish any information or return under section 151,-
(a) without reasonable cause fails to furnish such information or return as may be required under that section, or
(b) willfully furnishes or causes to furnish any information or return which he knows to be false,
he shall be punishable with a fine which may extend to ten thousand rupees and in case of a continuing offence to a further fine which may extend to one hundred rupees for each day after the first day during which the offence continues subject to a maximum limit of twenty five thousand rupees.
The Central Goods and Services Tax (CGST) Act, 2017 was notified by Govt. on 12 April, 2017 and CBIC has notified the commencement date for various Sections/ Provisions thereof from time to time. Subsequently, Govt. has notified the Central Goods and Services Tax (CGST) (Amendment) Act, 2018 on 30 Aug. 2018. However, commencement date of amended provisions of various Sections is to be separately notified by CBIC, except where specifically mentioned in the CGST Amendment Act, 2018 itself.