#GST Rollout: 18% Interest for Non-payment of Tax, 24% for Excess Claim of ITC - (30 Jun 2017)
Central Government has notified rates of interest to be paid under CGST Act. Persons who fail to pay tax under CGST Act would be liable to pay interest at rate of 18%. For Excess Claim of Input Tax Credit, Excess Reduction in Output Tax Credit, interest shall be 24%.
Tags : GST ROLLOUT GST DAY
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