GST - Rates of interest-Notification 13/2017
The rates of interest are same as mentioned in the Act. The notification ratifies the rates.
This notification shall come into force from the 1st day of July, 2017
| Sections | Interest p.a. |
| Sec 50(1)- Failure to pay tax | 18% |
| Sec 50(3)- Less tax paid/ excess ITC availed | 24% |
| Sec 54(12)- Interest on refunds withheld in an appeal later given | 6% |
| Sec 56- Interest on delayed refunds | 6% |
| Proviso to 56- Interest on refunds ordered in an appeal | 9% |
The same notification has also been made under IGST (notification 6).
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