Interest rate u/s 50(3)
RAVI RANJAN KUMAR (1 Points)
25 March 2023
What is the applicable rate of interest under section 50(3) of CGST Act 2017? Whether it is 24% or 18%?
2 Replies
Pankaj Rawat
(GST Practitioner)
(54737 Points)
Replied 26 March 2023
It's 18% .
As per Finance Act 2022-23 the Notification 13/2017 CT being amended retrospectively from 01/07/2017 & notifed the rate of tax for interest u/s 50 from 24% to 18% .
As per Finance Act 2022-23 the Notification 13/2017 CT being amended retrospectively from 01/07/2017 & notifed the rate of tax for interest u/s 50 from 24% to 18% .
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