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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Late Tax Payments Under Andhra Pradesh GST Act 2017 Attract Interest Rates Up to 18% or 24% for Excess Claims</h1> Under the Andhra Pradesh Goods and Services Tax Act, 2017, individuals liable to pay tax must do so within the prescribed period. If they fail to pay on time, they are required to pay interest on the unpaid amount at a rate not exceeding 18%, as determined by the government. This interest is calculated from the day after the tax was due. Additionally, if a taxable person makes an undue or excessive claim of input tax credit or reduces output tax liability excessively, they must pay interest on the excess amount at a rate not exceeding 24%, as notified by the government.
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