GST interest relief for delayed returns: phased lower interest applicable for March and April filing periods. Amendment inserts table entries prescribing temporary reduced interest for late GST returns for March and April 2021: taxpayers with aggregate turnover above rupees 5 crores face 9 per cent interest for the first 15 days from the due date and 18 per cent thereafter; taxpayers with aggregate turnover up to rupees 5 crores (monthly, proviso monthly, and quarterly filers) have nil interest for the first 15 days, 9 per cent for the next 15 days, and 18 per cent thereafter. The notification is effective from 18 April 2021.
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Provisions expressly mentioned in the judgment/order text.
GST interest relief for delayed returns: phased lower interest applicable for March and April filing periods.
Amendment inserts table entries prescribing temporary reduced interest for late GST returns for March and April 2021: taxpayers with aggregate turnover above rupees 5 crores face 9 per cent interest for the first 15 days from the due date and 18 per cent thereafter; taxpayers with aggregate turnover up to rupees 5 crores (monthly, proviso monthly, and quarterly filers) have nil interest for the first 15 days, 9 per cent for the next 15 days, and 18 per cent thereafter. The notification is effective from 18 April 2021.
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