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of <h1>Telangana GST Act Sets Annual Interest Rates: 18% for Sec 50(1), 24% for Sec 50(3), Effective July 1, 2017.</h1> The Government of Telangana, under the Telangana Goods and Services Tax Act, 2017, has set the annual interest rates for 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, and 6% for section 56. Additionally, the proviso to section 56 is set at 9%. This notification was issued by the Revenue (CT-II) Department under the authority of the Principal Secretary to the Government.
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