Amendment status not verified — confirm the current text below against the official source.
If any trader liable under section 11 to keep accounts or to submit statements, fails without sufficient cause to keep or submit the same in the manner and at the period prescribed or keeps false accounts or submits false statements, he shall, on conviction, be punished with fine which may extend to twenty Rectification of mistakes. Penalty for carrying on business without registration. Penalty for failure to keep accounts or submit statements. 8 Penalty for failure to comply with requirements of section 12 or for obstructing officer in discharging his duties. thousand rupees and in the case of a continuing failure, with an additional fine which may extend to one thousand rupees for each day during which such failure continues, after conviction for the first such failure.