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of <h1>Maharashtra Govt Lowers GST Interest Rates for Feb-Apr 2020; Relief for Different Turnover Brackets.</h1> The Maharashtra Government issued Notification No. 31/2020-State Tax under the Maharashtra Goods and Services Tax Act, 2017, to provide relief by conditionally lowering interest rates for tax periods from February to April 2020. For taxpayers with a turnover exceeding 5 crores, the interest is nil for the first 15 days post-due date and 9% thereafter, if returns are filed by June 24, 2020. For those with turnovers between 1.5 to 5 crores, the interest is nil if returns are filed by specified dates in June 2020. Taxpayers with turnovers up to 1.5 crores also enjoy nil interest if returns are filed by specified dates in June and July 2020. This notification is effective from March 20, 2020.
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