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of <h1>Maharashtra Govt Reduces Interest Rates on Late GST Payments for March-May 2021 Under Notification No. 18/2021.</h1> The Maharashtra Government issued Notification No. 18/2021 under the Maharashtra Goods and Services Tax Act, 2017, amending a previous notification to provide relief by reducing the interest rates on late tax payments for March to May 2021. Taxpayers with an annual turnover over 5 crores will incur 9% interest for the first 15 days after the due date and 18% thereafter. Those with a turnover up to 5 crores will have no interest for the first 15 days, 9% for the subsequent period, and 18% thereafter, varying by month. This notification is effective from May 18, 2021.
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