Seeks to provide relief by lowering of interest rate for a prescribed time for tax periods from February, 2020 to July, 2020. - 05/2020 - Integrated GST (IGST)
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Interest relief for GST late returns: nil interest for specified periods, then interest resumes at prescribed rate. Specifies a temporary rate of interest regime for registered persons required to furnish FORM GSTR-3B who fail to file returns with tax payment for specified months in early 2020: taxpayers are divided by aggregate turnover and by location, with a nil-interest grace period for each tax period followed by interest at the prescribed rate thereafter until the stated outer cutoff, as set out in the substituted proviso and accompanying table.
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.
Interest relief for GST late returns: nil interest for specified periods, then interest resumes at prescribed rate.
Specifies a temporary rate of interest regime for registered persons required to furnish FORM GSTR-3B who fail to file returns with tax payment for specified months in early 2020: taxpayers are divided by aggregate turnover and by location, with a nil-interest grace period for each tax period followed by interest at the prescribed rate thereafter until the stated outer cutoff, as set out in the substituted proviso and accompanying table.
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