Interest rate fixation under state GST Act: prescribed statutory rates set for recovery, refund and deposit provisions, effective from notification. State government fixes annual interest rates for specified provisions of the Chhattisgarh Goods and Services Tax Act, 2017: recovery interest under section 50(1) at eighteen percent, section 50(3) at twenty four percent, refund interest under section 54(12) at six percent, interest under section 56 at six percent, and the proviso to section 56 at nine percent; the notification is issued under statutory powers and on Council recommendation and takes effect from the notified commencement date.
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Interest rate fixation under state GST Act: prescribed statutory rates set for recovery, refund and deposit provisions, effective from notification.
State government fixes annual interest rates for specified provisions of the Chhattisgarh Goods and Services Tax Act, 2017: recovery interest under section 50(1) at eighteen percent, section 50(3) at twenty four percent, refund interest under section 54(12) at six percent, interest under section 56 at six percent, and the proviso to section 56 at nine percent; the notification is issued under statutory powers and on Council recommendation and takes effect from the notified commencement date.
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