Interest Liability On Delayed Payment Of GST

Section 50 of the CGST Act provides for interest on delayed payment of Goods and Services Tax. Section 50(1) of the CGST reads as, "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 rem…