notification number 13/2017, the government has notified the interest on late payment of GST at18% per annum. Further, if any person takes undue or excess claim of input tax credit (ITC) then person shall be liable to pay interest at 24% instead of 18%.
The interest rate is to be charged flat for each of the taxpayer and there is no concession even for small taxpayers. Hence, it is better to pay tax on time to avoid any payment interest of 18%.