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of <h1>Karnataka Amends GST Interest Rates for Taxpayers; Offers Nil Rate for Initial Days, 9% Thereafter for 2020 Tax Periods.</h1> The Government of Karnataka issued a notification amending the interest rates applicable under the Karnataka Goods and Services Tax Act, 2017. For taxpayers with an aggregate turnover exceeding 5 crores, the interest rate is nil for the first 15 days after the due date and 9% thereafter for the tax periods of February to April 2020. For those with a turnover up to 5 crores, the interest is nil until specified dates ranging from June to September 2020, followed by a 9% rate. This amendment aims to provide relief for tax periods from February to July 2020.
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