Interest on delayed payment of tax.

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.... the period for which the tax or any part thereof remains unpaid, pay, on his own, interest at such rate, not exceeding eighteen per cent., as may be notified by the Government on the recommendations of the Council. ^2[Provided that the interest on tax payable in respect of supplies made during a tax period and declared in the return for the said period furnished after the due date in accordanc....

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....n such manner as may be prescribed.]     ************** NOTES:- 1.  Inserted vide Section 100 of the Finance (No. 2) Act, 2019 w.e.f. 01-09-2020 2. Substituted vide Section 112 of the Finance Act, 2021 w.e.f. 01-07-2017 (this amendment came into effect w.e.f. 01-06-2021 vide Notification No. 16/2021 dated 01-06-2021) before it was read as,....