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.
1. CBEC notifies 1st July 2017 as the Commencement date for Section 124 of the CGST Act 2017, vide Notification 9/2017 Central Tax.
Govt. has notified the CGST Act, 2017 on 12th April, 2017, which has subsequently been amended through the CGST (Extension to J&K) Act 2017, Finance Act 2018, CGST Amendment Act 2018, Finance (No. 2) Act 2019, Finance Act 2020, Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance 2020. Further, CBEC/ CBIC has also issued various Notifications from time to time, relating to the commencement date of various Sections/ Provisions in the respective CGST/ Amendment Acts, wherever required.
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