Interest relief under GST: temporary stepped reduction in late interest rates for specified return categories and months. Amendment to the State Tax notification reduces interest for delayed GST returns for March and April 2021 by inserting turnover based and filing category entries into the existing table: an initial grace period with nil or reduced interest, a subsequent moderate rate, and the higher rate thereafter. The relief covers taxpayers above and at or below the aggregate turnover threshold across the specified return filing subsections and quarterly filers. The notification is effective retrospectively from 18 April 2021 and is promulgated under section 50 read with section 148 of the Act.
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Interest relief under GST: temporary stepped reduction in late interest rates for specified return categories and months.
Amendment to the State Tax notification reduces interest for delayed GST returns for March and April 2021 by inserting turnover based and filing category entries into the existing table: an initial grace period with nil or reduced interest, a subsequent moderate rate, and the higher rate thereafter. The relief covers taxpayers above and at or below the aggregate turnover threshold across the specified return filing subsections and quarterly filers. The notification is effective retrospectively from 18 April 2021 and is promulgated under section 50 read with section 148 of the Act.
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