Section 47 — Levy of late fee.

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

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(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.