- If a dealer or person willfully fails to furnish in due time the statement or return which he is required to furnish under sub-section (2) or sub-section (3) of section 16 and pay the tax due thereon, he shall be punishable:-(i)In case where the amount of tax which would have been evaded if the failure has not been discovered, exceeds one lakh rupees, with imprisonment for a term which shall not be less then six months but which may extend to seven years and with fine;(ii)In any other case, with imprisonment of either description for a term which may extend to three years or with fine; or with both.
