The Law Lexicon (P. Ramanatha Aiyar) defines interest as “interest is a consideration paid either for use of money or forbearance in demanding it, after it has fallen due”. Interest is generally payable for an amount that is lent or due, and, in the case of fiscal (taxation) laws, for any delays in remitting to the exchequer any sums that are due from the taxpayer. Interest is computed for the period in question. In the GST law, Section 50 of the Central Goods and Services Tax Act, 2017 (“CGST Act”) stipulates the levy of interest in certain circumstances; it also prescribes when, and the period for which it is to be applied.