Penalty for failure to furnish information return, Sec 123 of CGST Act, 2017
The below post explains about Penalty for failure to furnish information return under section 123 of CGST Act,2017.
Section 123 of CGST Act, 2017 explains Penalty for failure to furnish information return as below: (The amendments if any will also be updated here soon).
The extract of Section 123 of CGST Act,2017 quoted below:
123 Penalty for failure to furnish information return.
123. 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.
The above information clarifies about Penalty for failure to furnish information return under section 123 of CGST Act,2017.
If you have any comments about Section 123 of CGST Act, 2017 explaining Penalty for failure to furnish information return, share below your thoughts:
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