SECTION 50 [INTEREST ON DELAYED PAYMENT OF TAX] , READ WITH SECTIONS 54 AND 56, OF THE ASSAM GOODS AND SERVICES TAX ACT, 2017
NOTIFIED RATE OF INTEREST UNDER SECTION 50(1)(3), 54(12) AND 56 AND ITS PROVISO
NOTIFICATION NO.FTX.56/2017/33, DATED 29-6-2017
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 Assam Goods and Services Tax Act, 2017 (Assam Act No. XXVIII of 2017), the Governor of Assam, 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.
TABLE
| Serial Number | Section | Rate of interest (in per cent) |
| (1) | (2) | (3) |
| 1. | sub-section (1) of section 50 | 18 |
| 2. | sub-section (3) of section 50 | 24 |
| 3. | sub-section (12) of section 54 | 6 |
| 4. | section 56 | 6 |
| 5. | proviso to section 56 | 9 |
This notification shall come into force from the 1st day of July, 2017,