Section 47. Levy of late fee. –

(1) Any registered person who fails to furnish the details of outward or ¹ [***] supplies required under section 37 ¹ [***] or returns required under section 39 or section 45 ² [or section 52 ] by the due date shall pay a late fee of one hundred rupees for every day during which such failure continues subject to a maximum amount of five thousand rupees.

(2) Any registered person who fails to furnish the return required under section 44 by the due date shall be liable to pay a late fee of one hundred rupees for every day during which such failure continues subject to a maximum of an amount calculated at a quarter per cent. of his turnover in the State or Union territory.