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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Ministry of Finance Amends Notification for Conditional Interest Relief Under UTGST Act for February-April 2020 Tax Periods.</h1> The notification issued by the Ministry of Finance, Department of Revenue, amends a previous notification to provide conditional relief on interest rates for taxpayers under the Union Territory Goods and Services Tax Act. For tax periods from February to April 2020, different interest rates apply based on the taxpayer's turnover. Taxpayers with turnovers over 5 crores have a 15-day interest-free period, followed by a 9% rate. Those with turnovers between 1.5 and 5 crores, and up to 1.5 crores, have no interest if returns are filed by specified dates in June and July 2020. This amendment is effective from March 20, 2020.
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