Seeks to amend Notification No. 13/2017–Central Tax, dated the 28th June, 2017 - A lower rate of interest of NIL for first 15 days after the due date of filing return in FORM GSTR-3B and @ 9% thereafter is notified for those registered persons having aggregate turnover above ₹ 5 Crore and NIL rate of interest is notified for other cases for certain period. - 31/2020 - Central GST (CGST)

Central Tax Amendment: Adjusted Interest Rates for Late GSTR-3B Filings Based on Turnover.

Notification No. 31/2020-Central Tax, issued by the Ministry of Finance, amends Notification No. 13/2017-Central Tax to specify interest rates for late filing of GSTR-3B returns. For taxpayers with a turnover above 5 crore, a NIL interest rate applies for the first 15 days post-due date, followed by a 9% rate. For those with a turnover between 1.5 crore and 5 crore, and up to 1.5 crore, a NIL interest rate applies if returns for February, March, and April 2020 are filed by specified dates in June and July 2020. The amendment is effective from March 20, 2020.