Interest rate relief on GST late payments: staged reduced interest for returns filed for March and April 2021. The notification amends the Odisha GST interest proviso by inserting four new table entries that prescribe staged, reduced interest for specified categories of taxpayers-distinguished by aggregate turnover and return filing category-for returns relating to March and April 2021 and for the quarter ending March 2021. The amendment, issued under section 50(1) read with section 148, establishes initial lower interest for a defined early period followed by higher rates thereafter and is deemed effective from 18 April 2021.
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 rate relief on GST late payments: staged reduced interest for returns filed for March and April 2021.
The notification amends the Odisha GST interest proviso by inserting four new table entries that prescribe staged, reduced interest for specified categories of taxpayers-distinguished by aggregate turnover and return filing category-for returns relating to March and April 2021 and for the quarter ending March 2021. The amendment, issued under section 50(1) read with section 148, establishes initial lower interest for a defined early period followed by higher rates thereafter and is deemed effective from 18 April 2021.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
