Section 86(5) in Daman and Diu Value Added Tax Regulation, 2005
(5)If a registered dealer -(a)fails to comply with the provisions of sub-section (2) of section 22; or(b)fails to surrender his certificate of registration as provided in sub-section (7) of section 22,such dealer shall be liable to pay, by way of penalty, a sum equal to one hundred rupees for each day during which such failure continues or five thousand rupees, whichever is less.
