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of <h1>Gujarat Cuts Interest Rates on Late GST Payments for February-July 2020; Different Rates Based on Turnover Levels.</h1> The Government of Gujarat issued Notification No. 51/2020-State Tax, reducing the interest rates for late GST payments for the tax periods from February 2020 to July 2020. Taxpayers with an annual turnover exceeding 5 crores were charged nil interest 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, the interest was nil until specified dates in June and July 2020, and 9% thereafter until September 30, 2020, varying by state and tax period. This notification took effect on June 24, 2020.
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