https://www.taxtmi.com/manuals?id=2638 Interest is mandatory on delayed GST payment where tax or any part of tax remains unpaid beyond the due date. Section 50(1) applies to delayed tax payment at a notified rate not exceeding 18%, while section 50(3) applies to wrongly availed and utilised input tax credit at a notified rate not exceeding 24%. Rule 88B explains that interest is computed from the relevant date of delay or utilisation and clarifies the effect of the electronic cash ledger and electronic credit ledger in determining payment and utilisation. en-us Mon, 01 May 2023 18:28:00 +0530 Fri, 26 Jun 2026 14:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=2638 Interest is mandatory on delayed GST payment where tax or any part of tax remains unpaid beyond the due date. Section 50(1) applies to delayed tax payment at a notified rate not exceeding 18%, while section 50(3) applies to wrongly availed and utilised input tax credit at a notified rate not exceeding 24%. Rule 88B explains that interest is computed from the relevant date of delay or utilisation and clarifies the effect of the electronic cash ledger and electronic credit ledger in determining payment and utilisation. Manuals GST Mon, 01 May 2023 18:28:00 +0530 https://www.taxtmi.com/manuals?id=2638