CGST Section 123: Penalty for Failure to Furnish Information Return

Provisions under Section 123 of the CGST Act 2017 relating to “Penalty for Failure to Furnish Information Return”:

Section 123: Penalty for Failure to Furnish Information Return (CHAPTER XIX: OFFENCES AND PENALTIES) [*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.

Notes (History of Amendments in Bare Text):

1. CGST Section 123 introduced vide GOI Notification dated 12/04/2017, followed with CBEC Notification 9/2017 on commencement date of 01/07/2017.