Section 94(3) in The Andaman and Nicobar Islands Value Added Tax Regulation, 2017
(3)Where a person is required under this Regulation to-(a)prepare records or accounts; or(b)prepare records or accounts in a prescribed manner; or(c)retain prescribed or notified records or accounts;and such persons-(i)fails to prepare the prescribed or notified records and accounts; or(ii)fails to prepare prescribed or notified records and accounts in the prescribed manner; or(iii)fails to retain the prescribed or notified records and accounts for the prescribed period; or(iv)fails to retain or produce the prescribed or notified records at the principal place of business as recorded in his certificate of registration; or(v)fails to comply with a direction issued or fails to produce prescribed or notified records and accounts, or cause them to be produced, on or before the date specified in any notice served on him by the Commissioner or by an accountant or a panel of accountants or any other professional or panel of professionals nominated by the Commissioner in this behalf under clause (a) of sub-section (6) of section 58,such person shall be liable to pay, by way of penalty, a sum of twenty-five thousand rupees or twenty per cent. of the tax deficiency, if any, whichever is higher.
