Mahanagar Gas — Excessive Interest/penalty on late payment

Address: Mumbai

I need to pay Rs.401 if I pay my gas bill on 4/10/24.
I need to pay Rs.501 if I pay the bill on 5/10/24.
This works out to 1000% interest.
On what basis a Government Company can charge such a huge penalty/interst even for one day delay in payment of gas bill.
This is atrocious.
Household gas consumers are poor/lower middle class.
I have attached photo of gas bill.