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of <h1>Uttar Pradesh GST Act: Fixed Annual Interest Rates Announced for Sections 50, 54, 56 Effective July 1, 2017.</h1> The notification issued by the Uttar Pradesh government under the Uttar Pradesh Goods and Services Tax Act, 2017, outlines the fixed annual interest rates applicable to various sections of the Act. Effective from July 1, 2017, the interest 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, 6% for section 56, and 9% for the proviso to section 56. These rates are established based on the recommendations of the Goods and Services Tax Council.
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