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of <h1>Bihar Sets Annual GST Interest Rates: 18% for Sec 50(1), 24% for Sec 50(3), 6% for Sec 54(12) & Sec 56.</h1> The Governor of Bihar, following the Council's recommendations, has set the annual interest rates under the Bihar Goods and Services Tax Act, 2017. Effective from July 1, 2017, the rates are as follows: 18% for sub-section (1) of section 50, 24% for sub-section (3) of section 50, 6% for sub-section (12) of section 54, and 6% for section 56, with a proviso to section 56 set at 9%. This decision is documented under File No. Bikri-kar/GST/vividh-13/2017-2206 by the Commissioner-cum-Principal Secretary of the Commercial Taxes Department.
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