Interest rates for GST obligations set by notification, prescribing higher rates for certain defaults and lower rates for refunds. Administrative notification prescribes annual interest rates under specified provisions of the Punjab GST Act, fixing distinct percentages for interest on delayed payment under section 50(1), an elevated rate under section 50(3), interest on delayed refunds under section 54(12), and rates applicable to section 56 and its proviso, with the notification effective from the first day of July, 2017.
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Provisions expressly mentioned in the judgment/order text.
Interest rates for GST obligations set by notification, prescribing higher rates for certain defaults and lower rates for refunds.
Administrative notification prescribes annual interest rates under specified provisions of the Punjab GST Act, fixing distinct percentages for interest on delayed payment under section 50(1), an elevated rate under section 50(3), interest on delayed refunds under section 54(12), and rates applicable to section 56 and its proviso, with the notification effective from the first day of July, 2017.
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