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of <h1>Interest Penalties Under Jharkhand GST Act: Up to 18% for Late Tax, 24% for Excessive Input Credit Claims</h1> Every individual liable to pay tax under the Jharkhand Goods and Services Tax Act, 2017, must pay interest on delayed tax payments. If tax remains unpaid beyond the prescribed period, interest up to 18% may be charged, as notified by the government. This interest is calculated from the day after the tax was due. Additionally, if a person makes an undue or excessive claim of input tax credit or reduces output tax liability excessively, they must pay interest up to 24%, as determined by the government, for such discrepancies.
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