Penalty for failure to fulfil responsibility or obligation undertaken

Where any dealer issues a declaration under the provisions of this Act or the rules made thereunder or any notification issued under section 9 wherein he has undertaken any specific responsibility or obligation in regard to any goods purchased by him after the issue of such declaration and he fails to fulfil such responsibility or obligation, such dealer shall be liable to pay a penalty equal to one and a half times the entry tax computed at the rate mentioned in Schedule-I in respect of such goods.