Section 123 - Penalty for failure to furnish information return

123. Penalty for failure to furnish information return.[1]

If a person who is required to furnish an information return under section 150 fails to do so within the period specified in the notice issued under sub-section (3) thereof, the proper officer may direct that such person shall be liable to pay a penalty of one hundred rupees for each day of the period during which the failure to furnish such return continues:

Provided that the penalty imposed under this section shall not exceed five thousand rupees.

 

[1] This Section was made effective by Notification No. 09/2017-Central Tax dt. 28-06-2017 wef 01-07-2017.

GST Gyaan | https://gstgyaan.in | CA Rajesh Ritolia - 9350171263

Top