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Home Acts & Rules GST Acts CENTRAL GOODS AND SERVICES TAX ACT, 2017 Chapters List Chapter X PAYMENT OF TAX This
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Section 50 - Interest on delayed payment of tax. - CENTRAL GOODS AND SERVICES TAX ACT, 2017

Extract

..... Interest on delayed payment of tax. 50. (1) Every person who is liable to pay tax in accordance with the provisions of this Act or the rules made thereunder, but fails to pay the tax or any part thereof to the Government within the period prescribed, shall for 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 inte .....

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Section 50 - Interest on delayed payment of tax. - CENTRAL GOODS AND SERVICES TAX ACT, 2017

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..... e recommendations of the Council. ************ Notes 1. Inserted vide FINANCE (NO. 2) ACT, 2019 w.e.f. 01-09-2020 2. Substituted vide THE FINANCE ACT, 2021 dated 28-03-2021 w.e.f. 01-07-2017 before it was read as "1[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 accordance with the provisions of section 39, except where such return is furnished after commencement of any .....

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Section 50 - Interest on delayed payment of tax. - CENTRAL GOODS AND SERVICES TAX ACT, 2017

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  1. Notification No. 2/2021 - Dated: 1-6-2021 - Seeks to provide relief by lowering of interest rate for a specified time for tax periods March, 2021 to May, 2021.
  2. Notification No. 2/2021 - Dated: 1-6-2021 - Seeks to provide relief by lowering of interest rate for a specified time for tax periods March, 2021 to May, 2021.
  3. Notification No. 18/2021 - Dated: 1-6-2021 - Seeks to provide relief by lowering of interest rate for a specified time for tax periods March, 2021 to May, 2021.
  4. Notification No. 1/2021 - Dated: 1-5-2021 - Seeks to provide relief by lowering of interest rate for the month of March and April, 2021
  5. Notification No. 1/2021 - Dated: 1-5-2021 - Seeks to provide relief by lowering of interest rate for the month of March and April, 2021
  6. Notification No. 14/2021 - Dated: 1-5-2021 - Seeks to extend specified compliances falling between 15.04.2021 to 30.05.2021 till 31.05.2021 in exercise of powers under section 168A of CGST Act.
  7. Notification No. 8/2021 - Dated: 1-5-2021 - Seeks to provide relief by lowering of interest rate for the month of March and April, 2021
  8. Notification No. 2/2020 - Dated: 24-6-2020 - Seeks to provide relief by lowering of interest rate for a prescribed time for tax periods from February, 2020 to July, 2020.
  9. Notification No. 5/2020 - Dated: 24-6-2020 - Seeks to provide relief by lowering of interest rate for a prescribed time for tax periods from February, 2020 to July, 2020.
  10. Notification No. 51/2020 - Dated: 24-6-2020 - Seeks to provide relief by lowering of interest rate for a prescribed time for tax periods from February, 2020 to July, 2020.
  11. Notification No. 1/2020 - Dated: 8-4-2020 - Seeks to provide relief by conditional lowering of interest rate for tax periods of February, 2020 to April, 2020.
  12. Notification No. 3/2020 - Dated: 8-4-2020 - Seeks to provide relief by conditional lowering of interest rate for tax periods of February, 2020 to April, 2020.
  13. Notification No. 35/2020 - Dated: 3-4-2020 - Extension of validity of e-way bills.
  14. Notification No. 31/2020 - Dated: 3-4-2020 - Seeks to amend Notification No. 13/2017–Central Tax, dated the 28th June, 2017 - A lower rate of interest of NIL for first 15 days after the due date of filing return in FORM GSTR-3B and @ 9%...
  15. Notification No. 10/2017 - Dated: 30-6-2017 - Fixes the rate of interest per annum
  16. Notification No. 6/2017 - Dated: 28-6-2017 - Seeks to prescribe rate of interest under IGST Act, 2017
  17. Notification No. 13/2017 - Dated: 28-6-2017 - Seeks to prescribe rate of interest under CGST Act, 2017
  18. Notification No. 9/2017 - Dated: 28-6-2017 - Seeks to bring into force certain sections of the CGST Act, 2017 w.e.f 01.07.2017

 

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