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of <h1>Penalties Under CGST Act: Daily Fines for Non-Compliance and False Information, Capped at 5,000 and 25,000 Respectively.</h1> Under Section 123 of the CGST Act, a penalty is imposed for failing to furnish an information return, requiring a taxable person to pay 100 per day of default, capped at 5,000. Section 124 addresses fines for failing to provide statistics. If a person fails to furnish required data or knowingly provides false information, they may face a fine up to 10,000. For ongoing offences, an additional 100 per day may be charged, with a maximum limit of 25,000. These provisions ensure compliance with the obligations under the CGST Act, 2017.
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