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CGST ACT, 2017
[Amended upto 2024]

CHAPTER X  -  PAYMENT OF TAX

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Summarize Section 50 by TaxGPT in English Hindi Gujarati Tamil Telugu Bangali Marathi Kannada Malayalam Punjabi Odia Assamese Maithili Urdu Generate Summary

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

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

For notified rates of interest on delayed payment of tax see Notification No. 6/2017 Integrated Tax dated 28 Jun, 2017 and Notification No. 10/2017 Union Territory Tax dated 30 Jun, 2017

See

Section 39,

 

Section 42,

 

Section 43,

 

Section 73,

 

Section 74,

 

Rule 37,

 

Rule 42,

 

Rule 43,

 

Rule 96A,

 

Section 42,

 

Section 43,

 

Section 51,

 

Section 52,

 

Section 60,

 

Section 62,

 

Section 73,

 

Section 74,

 

Section 76,

 

Section 80,