Interest relief for delayed GST returns: phased nil-interest windows then standard interest resumes for specified taxpayers. Amendment prescribes phased nil-interest windows for delayed filing of FORM GSTR-3B for tax periods February-July 2020 and specifies that, for defined classes of registered persons (segmented by aggregate turnover and principal place of business), interest shall be nil until stated calendar cut-offs for each month and group and the ordinary interest rate shall apply after those cut-offs; the notification takes effect from 24 June 2020.
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Provisions expressly mentioned in the judgment/order text.
Interest relief for delayed GST returns: phased nil-interest windows then standard interest resumes for specified taxpayers.
Amendment prescribes phased nil-interest windows for delayed filing of FORM GSTR-3B for tax periods February-July 2020 and specifies that, for defined classes of registered persons (segmented by aggregate turnover and principal place of business), interest shall be nil until stated calendar cut-offs for each month and group and the ordinary interest rate shall apply after those cut-offs; the notification takes effect from 24 June 2020.
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