TMI BlogPenaltiesX X X X Extracts X X X X X X X X Extracts X X X X ..... e liable to pay only the greater penalty. 1 [ (4) Where a person who is required to be registered under this Act has failed to apply for registration within one month from the day on which the requirement arose, a person shall be liable to pay, by way of penalty, an amount equal to one thousand rupees per day, from the day immediately following the expiry of the said period until the person makes an application for registration in the prescribed form, containing such particulars and information and accompanied by such fee, security and other documents as may be prescribed: Provided that the amount of penalty payable under this sub-section shall not exceed one lakh rupees. ] (5) If, a registered dealer fails to comply with the provisions of sub-section (1) of section 21of this Act, the person shall be liable to pay, by way of penalty, a sum of 18 [two hundred] rupees per day of default subject to a maximum of 10 [ten] thousand rupees. (6) 19 [If a registered dealer fails to comply with the provisions of sub-section (2) of section 22 of this Act, he shall be liable to pay, by way of penalty, a sum equal to two hundred rupees for every day ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t of tax credit so claimed or ten thousand rupees, whichever is the greater. (12) Where a tax deficiency arises in relation to a person, the person shall be liable to pay, by way of penalty, a sum equal to one per cent of the tax deficiency per week or a sum equal to rupees one hundred per week, whichever is higher, for the period of default. (13) Where a person is required under this Act to - (a) prepare records or accounts; or (b) prepare records or accounts in a prescribed manner; or 14 [(c) retain prescribed or notified records or accounts; and the person (i) fails to prepare the prescribed or notified records and accounts, or (ii) fails to prepare prescribed or notified records and accounts in the prescribed manner; or (iii) fails to retain the prescribed or notified records and accounts for the prescribed period; or (iv) fails to retain and/or produce the prescribed or notified records at the principal place of business as recorded in his certificate of registration, or (v) fails to comply with a direction is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to a penalty equal to 4 [ 15 [twenty] paisa in a rupee for the value of such goods ] . (20) Any person who - (a) makes a statement to the Commissioner which is false, misleading or deceptive in a material particular; or (b) omits from a statement made to the Commissioner any matter or thing without which the statement is false, misleading or deceptive in a material particular; the person shall be liable to pay, by way of penalty, a sum of fifty thousand rupees, or the amount of the tax deficiency, whichever is greater. Explanation - 22 [Omitted] 5 [ (21) Where a casual trader who is required to be registered under this Act has failed to apply for registration within stipulated period, the casual trader shall be liable to pay, by way of penalty, an amount equal to five thousand rupees per day, from the day immediately following the expiry of the due date until the person makes an application for registration under this Act ; Provided that the amount of penalty payable under this sub-section shall not exceed one lakh rupees. (22) If a casual trader required to furnish a return under this Act- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mount of penalty payable under this sub-section shall not exceed one lakhs rupess. 2. Substituted vide DVAT (Second Amendment) Act, 2005 ; No.F.14(29)/LA/2005/333, Dated 16.11.2005 ., w.e.f. 16.11.2005. before it was read as:- (9) if person required to furnish a return under Chapter V of this Act- (a) fails to furnish any return by the due date; or (b) fails to furnish with a return any other document that is required to be furnished with the return; or (c) being required to revise a return already furnished, fails to furnish the revised return by the due date; the person shall be liable to pay, by way of penalty, a sum of one hundred rupees per day from the day on which the requirement arose until the failure is rectified: Provided that the amount of penalty payable under sub-section shall not exceed ten thousand rupees. 3. Substituted vide Notification No.F.14(6)/LA-2012/cons2law/61, Dated 15.06.2012 , before it was read as:- (18) If any dealer liable to have his accounts audited under section 49 of this Act fails to furnish a true copy of such report within the prescribed time, the person shall be liable to pay, by way of penalty, a sum of te ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to pay, by way of penalty, a sum of one hundred rupees per day from the day immediately following the due date until the failure is rectified: Provided that the amount of penalty payable under this sub-section shall not exceed ten thousand rupees. ] 14. Substituted vide NOTIFICATION No. F.14(5)/LA-2013/Cons2Law/65 dated September 09, 2013 , before it was read as, (c) retain records or accounts; and the person - (i) fails to prepare the required records and accounts; or (ii) fails to prepare records and accounts in the prescribed manner; or (iii) fails to retain the records and accounts for the prescribed period; the person shall be liable to pay, by way of penalty, a sum of fifty thousand rupees or twenty per cent of the tax deficiency, if any, whichever is greater. 15. Substituted vide NOTIFICATION No. F.14(5)/LA-2013/Cons2Law/65 dated September 09, 2013 , before it was read as, 'forty'. 16. Substituted vide NOTIFICATION No. F.14(5)/LA-2013/Cons2Law/65 dated September 09, 2013 , before it was read as, `ten'. 17. Inserted vide NOTIFICATION No. F.14(5)/LA-2013/Cons2Law ..... X X X X Extracts X X X X X X X X Extracts X X X X
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