TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Taxpayers Must Pay Interest on Late Payments and Excessive Input Credit Claims Under Specified Rules</h1> Every individual obligated to pay tax under the Act or its rules, who fails to do so within the prescribed timeframe, must pay interest on the unpaid amount at a rate recommended by the Council and notified by the Central or State Government. This interest is calculated from the first day the tax was due. Additionally, if a taxpayer makes an undue or excessive claim of input tax credit or reduces output tax liability excessively, they must pay interest on the excess at a prescribed rate for the specified period.
TaxTMI 
TaxTMI 
