42 Levy of late fee – Revised Model GST Law ( Nov 2016)

By | March 13, 2017
(Last Updated On: March 13, 2017)

Revised Model GST Law ( Nov 2016)

Section 42 Revised Model GST Law ( Nov 2016)

  1. Levy of late fee 

(1) Any registered taxable person who fails to furnish the details of outward or inward supplies required under section 32 or section 33, as the case may be, or returns required under section 34 or section 40 by the due date shall be liable to pay late fee of one hundred rupees for every day during which such failure continues subject to a maximum of five thousand rupees.

(2) Any registered taxable person who fails to furnish the return required under section 39 by the due date shall be liable to a late fee of one hundred rupees for every day during which such failure continues subject to a maximum of an amount calculated at a quarter percent of his turnover in the State.

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