In exercise of the powers conferred by sub-sections (1) and (3) of section 50, sub-section (12) of section 54 and section 56 of Telangana Goods and Services Tax Act, 2017 (Act No. 23 of 2017), the State Government, on the recommendations of the 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:-
Provided that the rate of interest per annum shall be as specified in column (3) of the Table given below for the period mentioned therein, for the class of registered persons mentioned in the corresponding entry in column (2) of the said Table, who are liable to pay tax but fail to do so for the months mentioned in the corresponding entry in column (4) of the said Table by the due date, namely:--
Table
This notification shall come into force with effect from the 1st day of July 2017.
By Order and in the Name of the Governor of Telangana
Somesh Kumar
Principal Secretary to Government