- Any VAT dealer or TOT dealer who fails to maintain proper records in accordance with the provisions of the Act is liable to pay a penalty at the rate of Rs. 5,000 (Rupees five thousand only) for each subsequent offence committed after a warning is issued in writing for the first offence, without prejudice to the payment of tax, penalty and interest if any due under the provisions of the Act:Provided that before imposing such penalty the authority shall give the dealer a reasonable opportunity of being heard.
