Interest on delayed payment of tax.

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..... 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 Government on the recommendations of the Council. 2[Provided that the interest on tax payable in respect of supplies made during a tax period and declared in the return for the said period furnished after the due date in accordance with the provisi .....

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..... prescribed.] ************ Notes 1. Inserted vide FINANCE (NO. 2) ACT, 2019 w.e.f. 01-09-2020 2. Substituted vide THE FINANCE ACT, 2021 dated 28-03-2021 w.e.f. 01-07-2017 (this amendment came into effect w.e.f. 1.6.2021 vide notification no. 16/2021 dated 1.6.2021) before it was read as "1[Provided that the interest on tax payable in respect of supplies made during a tax period and declar .....

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