Section 47. Levy of late fee

47. Levy of late fee. —(1) Any registered person who fails to furnish the details of outward[2] * supplies required under section 37[[3]] * or returns required under section 39 or section 45[[4]] 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. supplies required under section 37[[3]] * or returns required under section 39 or section 45[[4]] [or (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.