Seeks to provide relief by lowering of interest rate for the month of March and April, 2021 - 01/2021 - Integrated GST (IGST)

Interest relief for delayed GST payments reduces interest obligations for specified taxpayers for designated months.

Inserts a table into the principal IGST notification prescribing temporary, staged reductions in interest for late IGST payment for the tax periods of March and April 2021: higher-turnover taxpayers face a reduced rate for the first fifteen days from the due date and the standard rate thereafter; lower-turnover and specified return-filing categories receive nil interest for the first fifteen days, a lower rate for the next fifteen days, and the standard rate thereafter. The amendment is effective retrospectively from 18 April 2021.