The GST Act came in force from 1st July, 2017. There were many interpretation issues with respect to the acts and rules provided therein in the law. Since, such acts clause and rules were adopted from various legacy laws in India prior to GST; such as Service Tax, State VAT, Central Excise Act, Luxury Tax, Entertainment Tax, etc. it was difficult to make applicable one meaning for different sectors. Hence, some modifications from existing sections and rules were required. Therefore, it was important to amend the sections and rules time to time referring the current scenario and trade practice. The Notification discussed here is ”Notification No. 13/2017-Central Tax”.
Contents of Notification:
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,
SECTION 3, SUB-SECTION (i)]
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
Notification No. 13/2017 – Central Tax
New Delhi, the 28th June, 2017
7 Ashadha, 1939 Saka
G.S.R. …..(E).—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 the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central 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.
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 |
2. This notification shall come into force from the 1st day of July, 2017.
[F. No.349/72/2017-GST]
(Dr. Sreeparvathy S.L.)
Under Secretary to the Government of India
The Notification can be Downloaded here