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of <h1>India Amends GST Late Payment Interest Rates for Feb-Jul 2020; Relief for Taxpayers with Turnover Variations.</h1> The Government of India issued Notification No. 51/2020 to amend the interest rates for late GST payments for the tax periods from February to July 2020. For taxpayers with a turnover exceeding 5 crores, interest is nil for the first 15 days after the due date and 9% thereafter until June 24, 2020. For those with a turnover up to 5 crores, interest is nil until specified dates in 2020, and 9% thereafter until September 30, 2020, with variations based on the taxpayer's location. This amendment aims to provide financial relief during the specified period.
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