Amended and updated notes on section 124 of CGST Act, 2017. Detail discussion on provisions and rules related to fine for failure to furnish statistics.
Chapter XIX (Sections 122–138) of the Central Goods and Services Tax Act, 2017 deals with the provisions related to offences and penalties. Section 124 of CGST 2017 provides for fine for failure to furnish statistics.
Recently, we have discussed in detail section 123 (Penalty for failure to furnish information return) of CGST Act 2017. Today, we learn the provisions of section 124 of Central GST Act 2017.
Section 124 of the Central Goods and Services Tax Act, 2017 has been notified by the Ministry of Finance vide Notification No. 9/2017-Central Tax, G.S.R. 658(E), dated 28.06.2017. This notification was come into force from 1st July, 2017 i.e. the commencement date of section 124 is 1-7-2017.
| Name of Act | The Central Goods and Services Tax Act 2017 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Central Board of Indirect Taxes & Customs |
| Governing body | GST Council |
| Number of Chapters | 21 |
| Number of Sections | 174 |
| You are reading: | |
| Chapter No. | XIX |
| Chapter Name | Offences and Penalties |
| Section No. | 124 |
| Section Name | Fine for failure to furnish statistics |
| Updated 2024 Edition | GST Law Book PDF |
Relevant Rules and Forms for GST Section 124:
- Rule 142: Notice and order for demand of amounts payable under the Act
- FORM GST DRC – 01: Summary of Show Cause Notice
- FORM GST DRC – 01A: Intimation of tax ascertained as being payable under section 73(5)/74(5)
- FORM GST DRC – 02: Summary of Statement
- FORM GST DRC – 03: Intimation of payment made voluntarily or made against the show cause notice (SCN) or statement or intimation of tax ascertained through FORM GST DRC-01A.
- FORM GST DRC – 04: Acknowledgement of acceptance of payment made voluntarily
- FORM GST DRC – 05: Intimation of conclusion of proceedings
- FORM GST DRC – 06: Reply to the Show Cause Notice
- FORM GST DRC – 07: Summary of the order
- FORM GST DRC – 07A: Summary of the order creating demand under existing laws
- FORM GST DRC – 08: Summary of Rectification /Withdrawal Order
Section 124 of Central GST – Fine for failure to furnish statistics1
Section 124 of CGST Act 2017 shall come into force on 01.07.2017 vide Notification No. 9/2017-Central Tax, G.S.R. 658(E), dated 28.06.2017.
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) wilfully 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.
- Section 124 of CGST Act 2017 shall come into force on 01.07.2017 vide Notification No. 9/2017-Central Tax, G.S.R. 658(E), dated 28.06.2017. ↩︎