(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 Government on the recommendations of the Council:
1[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 provisions of section 39, except where such return is furnished after commencement of any proceedings under section 73 or section 74 2[or section 74A] in respect of the said period, shall be payable on that portion of the tax which is paid by debiting the electronic cash ledger.]
(2) The interest under sub-section (1) shall be calculated, in such manner as may be prescribed, from the day succeeding the day on which such tax was due to be paid.
3[(3) Where the input tax credit has been wrongly availed and utilised, the registered person shall pay interest on such input tax credit wrongly availed and utilised, at such rate not exceeding twenty-four per cent. as may be notified by the Government, on the recommendations of the Council, and the interest shall be calculated, in such manner as may be prescribed.]
1[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 provisions of section 39, except where such return is furnished after commencement of any proceedings under section 73 or section 74 2[or section 74A] in respect of the said period, shall be payable on that portion of the tax which is paid by debiting the electronic cash ledger.]
(2) The interest under sub-section (1) shall be calculated, in such manner as may be prescribed, from the day succeeding the day on which such tax was due to be paid.
3[(3) Where the input tax credit has been wrongly availed and utilised, the registered person shall pay interest on such input tax credit wrongly availed and utilised, at such rate not exceeding twenty-four per cent. as may be notified by the Government, on the recommendations of the Council, and the interest shall be calculated, in such manner as may be prescribed.]
Source footnotes
1. This proviso was substituted and shall be deemed to have been substituted by Mah. 13 of 2021, s. 6, w.e.f. 1st July 2017.2. These words, figures and letter were inserted by Mah. 8 of 2025, s. 17, w.e.f. 1st November 2024.
3. Sub-section (3) was substituted and shall be deemed to have been substituted with effect from the 1st July 2017 by Mah. 39 of 2022, s. 13.
आगे पढ़ें / Continue reading
Explore the next section or browse this act in the selected language.
Next · Section 51Tax deduction at source. →All sections / सभी धाराएँThe Maharashtra Goods and Services Tax Act, 2017 →
More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 3 · Officers under this Act.Section 4 · Appointment of officers.Section 5 · Powers of officers.Section 6 · Authorisation of officers of central tax as proper officer in certain circumstances.Section 7 · Scope of supply.Section 8 · Tax liability on composite and mixed supplies.India Code, Government of India. Text fetched 19 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.