Council, fix the rate of interest per annum. - S.O.024/P.A.5/2017/Ss.50, 54 and 56/ 2017. - Punjab SGST

GOVERNMENT OF PUNJAB DEPARTMENT OF EXCISE AND TAXATION (EXCISE AND TAXATION-II BRANCH) NOTIFICATION The 30th June, 2017 No.S.O.24 /P.A.5/2017/Ss.50, 54 and 56/ 2017. - In exercise of the powers conferred by sub-sections (1) and (3) of section 50 , sub-section (12) of section 54 and section 56 of Punjab Goods and Services Tax Act, 2017 (Punjab Act No.5 of 2017) , and all other powers enabling him in this behalf, the Governor of Punjab, on the recommendations of the Council, is pleased to fix the rate of interest per annum for the purposes of the sections as specified in column (2) of the Table below as mentioned in the corresponding entry in column (3) of the said Table. Table Serial Number Section Rate of interest (in per cent) (1) (2) (3) 1. Sub-section (1) of section 50 18 2. sub-section (3) of section 50 24 3. sub-section (12) of section 54 6 4. section 56 6 5. proviso to section 56 9 2. This notification shall come into force on and with effect from the 1 st day of July, 2017. A. VENU PRASAD, Financial Commissioner Taxation and Secretary to Government of Punjab, Department of Excise and Taxation.