Conditional reduction of GST interest: extended filing windows permit nil interest for eligible turnover classes if returns filed by specified dates. Amendment conditions conditional reduction of interest under section 50 read with section 148 for late filing of FORM GSTR-3B for specified early 2020 tax periods by classifying taxpayers by aggregate turnover, prescribing nil interest where returns are furnished by specified extended dates for each turnover slab and tax period, with one slab receiving nil interest for an initial grace period followed by a higher rate thereafter; the notification is deemed effective from 20 March 2020.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Conditional reduction of GST interest: extended filing windows permit nil interest for eligible turnover classes if returns filed by specified dates.
Amendment conditions conditional reduction of interest under section 50 read with section 148 for late filing of FORM GSTR-3B for specified early 2020 tax periods by classifying taxpayers by aggregate turnover, prescribing nil interest where returns are furnished by specified extended dates for each turnover slab and tax period, with one slab receiving nil interest for an initial grace period followed by a higher rate thereafter; the notification is deemed effective from 20 March 2020.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
