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of <h1>Late GST Payments in Telangana Attract Up to 18% Interest; Incorrect Tax Claims Face Up to 24% Penalty.</h1> Every person liable to pay tax under the Telangana Goods and Services Tax Act, 2017, who fails to do so within the prescribed period, must pay interest on the unpaid amount at a rate not exceeding eighteen percent, as determined by the Government. Interest is calculated from the day after the tax was due. Additionally, if a taxable person makes an undue or excessive input tax credit claim or reduces output tax liability improperly, they must pay interest at a rate not exceeding twenty-four percent, as specified by the Government.
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