Goods and Services Tax – GST – By: – CA.VINOD CHAURASIA – Dated:- 26-9-2017 – Introduction: This article discusses in detail about interest payable on late payment of tax liability under GST. Every person who is liable to pay tax under GST fails to pay the tax or any part thereof to the Government within the due date then he shall pay on his own, interest at 18% or 24% P.A. on outstanding tax liability. Further, the interest shall be calculated from the day succeeding the day on which such tax was due to be paid. Vide notification no 13/2017 – Central Tax dated 28th June 2017, interest rate on late payment of GST under section 50 of CGST Act as below: Interest on late payment of GST at 18% per annum. if any person takes undue or excess cla
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