INTEREST PAYMENTS & RECEIPTS IN GST

Rate of
Payment by person or
Section Reason Period Interest (Per Detail of Notifications
Government
Annum)

50(1) of CGST Act & SGST Act/

Non Payment of Tax or Part within For the period tax or any part remain
Section 20(ix) of IGST Act/ Section Payment by person 18%
prescribed time unpaid
21(x) of UTGST Act

50(3) of CGST Act & SGST Act/

Undue Excess ITC u/s 42(10) or Excess
Section 20(ix) of IGST Act/ Section Payment by person For default period 24%
reduction of liability u/s 43(10)
21(x) of UTGST Act

On withheld of refund for cases Notified vide notification no. 13/2017-

54(12) of CGST Act & SGST Act/
pending with appellate authorities Payment by Government on From due date of refund to actual CT & ST dated 28.06.2017/ Notification
Section 20(xiii) of IGST Act/ Section 6%
and appellate authority allow the refunds receipt no.6/2017-IT dated 28.06.2017
21(xiv) of UTGST Act
refund effective from 01.07.2017

from the date immediately after the

56 of CGST Act & SGST Act/ Section
20(xiii) of IGST Act/ Section 21(xiv)
of UTGST Act
If refund in normal cases not paid
Payment by Government on expiry of sixty days from the date of
within 60 days of receipt of 6%
refunds receipt of application till the date of
application u/s 54(1)
refund of such tax:

from the date immediately after the

Proviso to section 56 of CGST Act & Case is disposed off by appellate
Payment by Government on expiry of sixty days from the date of
SGST Act/ Section 20(xiii) of IGST authorties and ordered the refund- 9%
refunds receipt of application till the date of
Act/ Section 21(xiv) of UTGST Act Not paid within 60 days of application
refund of such tax: