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of <h1>Andhra Pradesh Sets GST Interest Rates: 18% for Sec 50(1), 24% for Sec 50(3), 6% for Sec 54(12) and Sec 56.</h1> The government of Andhra Pradesh has issued a notification under the Andhra Pradesh Goods and Services Tax Act, 2017, specifying annual interest rates applicable to various sections of the Act. Effective from July 1, 2017, the interest rates are as follows: 18% under sub-section (1) of section 50, 24% under sub-section (3) of section 50, 6% under sub-section (12) of section 54, 6% for section 56, and 9% for the proviso to section 56. This notification was authorized by the Special Chief Secretary to the Government.
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