Amendment status not verified — confirm the current text below against the official source.
In section 171ofthe principal Act, after sub-section (3), the following shall be inserted, namely:— “(3A) Where the Authority referred to in sub-section (2), after holding examination as required underthe said sub-section comes to the conclusion that any registered person has Profiteered under sub-section (1), such Person shall be. liable to pay penalty equivalentto ten percent. of the amount so Profiteered: Provided that no penalty shall be leviable if the’profiteered amount is deposited within thirty daysofthe date ofPassingofthe order by the Authority. Explanation.—For the Purposes of this section, the expression “profiteered” shall mean the amount determined on account ofnot . Amendment of notification number 111 issued under sub-section (1)ofsection 11 of. Manipur Goods and Services Tax Act,