71. Penalties relating to registration

(1) A dealer who, without reasonable cause, fails to apply for registration within the time prescribed in sub-sections (1) or (5) to (9) of section 22 shall be liable to a penalty of two thousand rupees in addition to the interest chargeable on the tax payable at the rate provided under section 37.

(2) A dealer who fails to report to the prescribed authority a change in circumstances as required by Section 28 shall be liable to a penalty not exceeding five thousand rupees.

(3) The power to levy the penalties shall be vested in the registering authority as prescribed.