CGST Section 124: Fine for Failure to Furnish Statistics

Provisions under Section 124 of the CGST Act 2017 relating to “Fine for Failure to Furnish Statistics”:

Section 124: Fine for Failure to Furnish Statistics (CHAPTER XIX: OFFENCES AND PENALTIES) [*1]

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.

Notes (History of Amendments in Bare Text):

1. CGST Section 124 introduced vide GOI Notification dated 12/04/2017, followed with CBEC Notification 9/2017 on commencement date of 01/07/2017.