Section 77 of FINANCE ACT, 1994
Section
77
General penalty for contravention of any provisions of chapter V
of Finance Act, 1994 or rules made there under for which no penalty is provided
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Sr. No.
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Nature of Default
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Penalty
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1
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Failure to take registration in accordance with
Sec.69 or rules made thereunder
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Rs. 10000 or Rs. 200 per day
during which failure continues, whichever is higher.
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2
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Failure to keep, maintain or retain records
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Up to Rs.10000/-
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3
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Failure to furnish information, to produce documents called for
by Central Excise Officer or to appear before the Central Excise Officer
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Upto Rs.10000/- or Rs. 200 per
day during which failure continues.
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4
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Failure to pay tax electronically by the person required to pay
tax electronically
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upto Rs.10000/-
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5
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Failure to issue correct invoice with complete details and
account for the invoice in his books of accounts
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Upto Rs.10000/-
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6
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For contravention of any other provisions of the Act where no
separate penalty is provided
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upto Rs.10000
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