Interest on delayed tax payments requires payment of notified rates from day after due date; higher rates for undue claims.

Every person liable to pay tax must pay interest on unpaid tax for the period of default at a Government notified rate not exceeding eighteen per cent, calculated from the day after the due date; undue or excess input tax credit claims or undue reductions in output tax liability attract interest on the undue or excess amount at a Government notified rate not exceeding twenty four per cent.

---

---

---