Interest relief for delayed GST returns extended; nil interest for specified initial grace periods followed by standard interest thereafter. The amendment substitutes the proviso prescribing the rate of interest per annum for registered persons required to furnish returns in FORM GSTR-3B who fail to file with payment by the due date. It establishes a table grouping taxpayers by aggregate turnover and principal place of business, and for each class and tax period specifies a nil interest window followed by an interest rate for the subsequent period, covering returns for February 2020 through July 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.
Interest relief for delayed GST returns extended; nil interest for specified initial grace periods followed by standard interest thereafter.
The amendment substitutes the proviso prescribing the rate of interest per annum for registered persons required to furnish returns in FORM GSTR-3B who fail to file with payment by the due date. It establishes a table grouping taxpayers by aggregate turnover and principal place of business, and for each class and tax period specifies a nil interest window followed by an interest rate for the subsequent period, covering returns for February 2020 through July 2020.
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