Interest /Penalty Under GST

Penalty/ Interest Under GST

Interest on delayed payment of GST - 18% p.a.
Interest on excess ITC claimed / excess reduction in output tax liability - 24% p.a.
Interest on withheld refund - 6% p.a.
Interest on delayed refund (beyond 60 days) - 6% p.a.
Interest on delayed refund (arising from order of authority/ court) - 9% p.a. Notification No. 12/2017 – 28th June 2017.

Thanks & Regards

Neeraj Choudhary

9711155069