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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Taxpayers face up to 18% interest for late payments and up to 24% for excess input tax claims under HP GST Act.</h1> Every person liable to pay tax under the Himachal Pradesh 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. This 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 reduces output tax liability excessively, they must pay interest on the excess amount at a rate not exceeding 24%, as determined by the Government.
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