Seeks to provide relief by lowering of interest rate for a specified time for tax periods March, 2021 to May, 2021. - 18/2021 - Central GST (CGST)

Reduction of interest rates for delayed GST payments creates phased low-interest windows for specified tax periods and taxpayer categories.

The notification revises Central Tax interest provisions to prescribe phased interest treatment for delayed GST payments for specified months: it substitutes return-focused wording with a liability-to-pay formulation, replaces 'Tax period' with 'Month/Quarter,' and sets differentiated interest windows and rates by aggregate turnover and return-filing category, with an initial interest-free or lower-rate period followed by an intermediate reduced rate and then a higher rate; the amendment is deemed effective retrospectively from an earlier date.