Section 55(2) in The Goa Value Added Tax Act, 2005
(2)[ Any registered dealer covered under Schedule "E' appended to this Act, fails to file return within the time required under this Act, he shall be liable for penalty of Rs.1000/- per quarter plus an amount equal to simple interest at the rate of 2% per month on the tax payable for the return period.] [Inserted by the Amendment Act 18 of 2006.]
