(1)Whosoever contravenes, or fails to comply with, any of the provisions of this Act or the rules made thereunder or any order or direction made or given thereunder, shall, if no other penalty is provided under this Act for such contravention or failure, be liable to imposition of a penalty, not exceeding [five thousand rupees] [Substituted for 'two thousand rupees' by Punjab Act 1 of 1994 w.e.f. 29.9.1993.], and where such contravention or failure is a continuing one, to a daily penalty not exceeding fifty rupees during the period of the continuance of the contravention or failure.(2)An officer not below the rank of Excise and Taxation Officer appointed under sub-section (1) of section 3 may, after affording to the person a reasonable opportunity of being heard, impose the penalty mentioned in sub- section (1).
