Late payment interest framework for GST returns establishes graduated rates and staggered timelines for different turnover classes. The amendment substitutes proviso language to refer to persons 'liable to pay tax but fail to do so,' replaces the Table heading 'Tax period' with 'Month/Quarter,' and reworks table entries to impose graduated interest slabs and specific month/quarter applicability for different taxpayer turnover classes; the notification is deemed effective from an earlier specified date.
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Provisions expressly mentioned in the judgment/order text.
Late payment interest framework for GST returns establishes graduated rates and staggered timelines for different turnover classes.
The amendment substitutes proviso language to refer to persons "liable to pay tax but fail to do so," replaces the Table heading "Tax period" with "Month/Quarter," and reworks table entries to impose graduated interest slabs and specific month/quarter applicability for different taxpayer turnover classes; the notification is deemed effective from an earlier specified date.
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