Section 124 of CGST Act 2017: Fine for Failure to Furnish Statistics

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.

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The Central Goods and Services Tax (CGST) Act, 2017 was notified by Govt. of India 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. Further, CBIC has separately notified the commencement date of provisions of various Sections of the CGST (Amendment) Act 2018 vide Notification No. 2/2019 Central Tax dt. 29 Jan. 2019, except for sections where the date of commencement is different from 1 Feb. 2019 and has specifically been mentioned in the CGST Amendment Act, 2018 itself.

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