https://www.taxtmi.com/acts?id=30590 Section 50 requires a person who fails to pay tax when due to pay interest for the period of delay at a rate notified by the Government on the Council's recommendation, calculated from the day after the due date in the prescribed manner. It also requires interest on any undue or excess claim of input tax credit or undue or excess reduction in output tax liability at a government-notified rate, thereby creating parallel interest liabilities for delayed payment and for erroneous or excessive credits or reductions. en-us Wed, 26 Jul 2017 12:56:54 +0530 Wed, 26 Jul 2017 12:56:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=30590 Section 50 requires a person who fails to pay tax when due to pay interest for the period of delay at a rate notified by the Government on the Council's recommendation, calculated from the day after the due date in the prescribed manner. It also requires interest on any undue or excess claim of input tax credit or undue or excess reduction in output tax liability at a government-notified rate, thereby creating parallel interest liabilities for delayed payment and for erroneous or excessive credits or reductions. Act-Rules GST - States Wed, 26 Jul 2017 12:56:54 +0530 https://www.taxtmi.com/acts?id=30590