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of <h1>Madhya Pradesh Sets GST Interest Rates: 18% for Sec 50(1), 24% for Sec 50(3), Effective July 1, 2017.</h1> The State Government of Madhya Pradesh, following recommendations from the Goods and Services Tax Council, has set annual interest rates under the Madhya Pradesh Goods and Services Tax Act, 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, 6% for section 56, and 9% for the proviso to section 56. This notification is effective from July 1, 2017.
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