Rate of interest per annum for the purposes of cerrtain section of the KGST Act, 2017. - 13/2017 - Karnataka SGST

FINANCE SECRETARIAT NOTIFICATION (13/2017) No. FD 47 CSL 2017, Bengaluru, dated: 29.06.2017. In exercise of the powers conferred by sub section (1) and (3) of section 50 , sub section (12) of section 54 and section 56 of Karnataka Goods and Services Tax Act, 2017 (Karnataka Act 27 of 2017) , the Government of Karnataka, on the recommendations of Goods and Services Tax Council, hereby fixes the rate of interest per annum for the purposes of the sections as specified in column (2) of the Table below as mentioned in the corresponding entry in column (3) of the said Table: Table Serial Number Section Rate of interest (1) (2) (3) 1. Sub section (1) of section 50 18 per cent. 2. Sub section 3 of section 50 24 per cent. 3. Sub-section (12) of section 54 6 per cent. 4. Section 56 6 per cent. 5. Proviso to section 56 9 per cent. 2. This notification shall come into force from the 1st day of July, 2017. By order and in the name of the Governor of Karnataka, K.S. PADMAVATHI Under Secretary to Government, Finance Department (C. T. 1).