Reduced GST interest rates: temporary lower interest tiers for specified taxpayers during March and April, effective retroactively. The notification amends the Madhya Pradesh SGST interest schedule to provide a temporary, graduated reduction in interest for delayed GST returns for March and April 2021 by inserting turnover- and return-category specific rows into the existing table: small taxpayers receive an initial nil-interest period followed by a reduced-interest period and then standard interest, while larger taxpayers receive a shorter reduced-interest period before standard interest applies. The amendment applies to various sub-categories under section 39 and takes effect retrospectively from 18 April 2021.
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Reduced GST interest rates: temporary lower interest tiers for specified taxpayers during March and April, effective retroactively.
The notification amends the Madhya Pradesh SGST interest schedule to provide a temporary, graduated reduction in interest for delayed GST returns for March and April 2021 by inserting turnover- and return-category specific rows into the existing table: small taxpayers receive an initial nil-interest period followed by a reduced-interest period and then standard interest, while larger taxpayers receive a shorter reduced-interest period before standard interest applies. The amendment applies to various sub-categories under section 39 and takes effect retrospectively from 18 April 2021.
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