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<h1>Manipur Sets Interest Rates Under GST Act: 18% for Section 50(1), 24% for Section 50(3), 6% for Sections 54 & 56.</h1> The Government of Manipur, through its Finance Department, has issued a notification setting the annual interest rates under various sections of the Manipur Goods and Services Tax Act, 2017. 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, and 6% for sub-section (12) of section 54 and section 56. Additionally, a 9% rate is specified for the proviso to section 56. This decision follows the recommendations of the Council.