27. Application of certain provisions of the CGST Act, 2016
The provisions relating to registration, valuation, time of supply of goods, time of supply of services, change in rate of tax in respect of supply of services, exemption from payment of tax, input tax credit and utilization thereof, accounts and records, payment, return, audit, assessment, adjudication, demands, refunds, interest, recovery of tax, offences and penalties, inspection, search and seizure, prosecution and power to arrest, appeals, review, advance ruling and compounding shall apply, so far as may be, in relation to the levy of tax under this Act as they apply in relation to levy of tax under the CGST Act, 2016.
28. Power to make rules
- The Central Government may, on the recommendation of the Council, by notification, make rules for carrying out the purposes of this Act.
- In particular and without prejudice to the generality of the foregoing power, such rules may
(i) provide for settlement of cases in accordance with Chapter VIIA of this Act;
(ii) provide for all or any of the matters which under any provision of this Act are required to be prescribed or to be provided for by rules.
29. Interest on delayed payment of tax
- Every person liable to pay tax in accordance with the provisions of this Act or rules made there under, who fails to pay the tax or any part thereof to the account of the Central Government within the period prescribed, shall, on his own, for the period for which the tax or any part thereof remains unpaid, pay interest at such rate as may be notified, on the recommendation of the Council, by the Central Government.
- The interest under sub-section (1) shall be calculated from the first day such tax was due to be paid.
- In case a taxable person makes an undue or excess claim of input tax credit under sub-section (10) of section 29 of the CGST Act, he shall be liable to pay interest on such undue or excess claim at the prescribed rate for the period computed in the manner prescribed.
30. Tax wrongfully collected and deposited with the Central or a State Government
A taxable person who has paid IGST on a transaction considered by him to be an inter-state supply, but which is subsequently held to be an intra-state supply, shall, upon payment of CGST and SGST in the appropriate State, be allowed to take the amount of IGST so paid as refund subject to the provisions of section 38 of the CGST Act, 2016 and such other conditions as may be prescribed.