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of <h1>Interest Rates on Late Tax Payments and Excess Claims under Puducherry GST Act, 2017: Up to 18% and 24% Respectively.</h1> Every individual liable to pay tax under the Puducherry Goods and Services Tax Act, 2017, who fails to pay within the prescribed period, must pay interest on the unpaid amount at a rate not exceeding 18%, as notified by the government. Interest is calculated from the day after the tax was due. Additionally, if a taxable person makes an undue or excess claim of input tax credit or reduction in output tax liability, they must pay interest on the excess at a rate not exceeding 24%, as determined by the government based on Council recommendations.
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