Interest on delayed GST payment and wrongly utilised input tax credit is governed by section 50 and rule 88B.

Interest is mandatory on delayed GST payment where tax or any part of tax remains unpaid beyond the due date. Section 50(1) applies to delayed tax payment at a notified rate not exceeding 18%, while section 50(3) applies to wrongly availed and utilised input tax credit at a notified rate not exceeding 24%. Rule 88B explains that interest is computed from the relevant date of delay or utilisation and clarifies the effect of the electronic cash ledger and electronic credit ledger in determining payment and utilisation.

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