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<h1>Interest on delayed tax requires taxable persons to self-assess and pay interest for unpaid tax periods and excess ITC claims.</h1> Persons liable to pay tax who fail to pay tax within the prescribed period must pay interest on the unpaid amount at a Government-notified rate not exceeding eighteen per cent., calculated from the day after the due date in the prescribed manner; persons making undue or excess input tax credit claims or undue reductions in output tax liability must pay interest on those amounts at a Government-notified rate not exceeding twenty-four per cent.