A taxable person who makes an excess claim of input tax credit or excess reduction in output tax liability shall pay interest at such rate not exceeding :

CS Executive · Tax Laws and Practice · PYQS · June 2018
A taxable person who makes an excess claim of input tax credit or excess reduction in output tax liability shall pay interest at such rate not exceeding :
(A) 18%
(B) 24%
(C) 20%
(D) 21%

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: GST

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