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Amended upto (Year) ⇨  
CGST ACT
[Amended upto 2025]

CHAPTER X  -  PAYMENT OF TAX

TaxGPT

Summarize Section 50 by TaxGPT in
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Section 50 - Interest on delayed payment of tax.

50. (1) Every person who is liable to pay tax in accordance with the provisions of this Act or the rules made thereunder, but fails to pay the tax or any part thereof to the Government within the period prescribed, shall for the period for which the tax or any part thereof remains unpaid, pay, on his own, interest at such rate, not exceeding eighteen per cent., as may be notified by the Go


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References:

For for notified rate of interest under section 50(1) /3 54(12) and 56 and its proviso see Notification No. 13/2017 Central Tax dated 28 Jun, 2017
For notified registered person having aggregate turnover exceeding one hundred crore rupees to prepare invoice see Notification No. 70/2019 Central Tax dated 13 Dec, 2019
For invoice issued by registered person having aggregate turnover exceeding five hundred crore rupees to an unregistered person shall have quick response (QR) code see Notification No. 72/2019 Central Tax dated 13 Dec, 2019