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of <h1>Meghalaya GST Update: New Late Payment Interest Rates for Taxpayers Based on Annual Turnover, Effective May 18, 2021.</h1> The Government of Meghalaya issued an amendment to its Goods and Services Tax (GST) notification, effective from May 18, 2021. The amendment modifies the terms for taxpayers concerning late payment interest rates. For taxpayers with an annual turnover exceeding 5 crores, a 9% interest applies for the first 15 days post due date, increasing to 18% thereafter for March to May 2021. For those with a turnover up to 5 crores, the interest is nil for the first 15 days, 9% for the next 30 to 45 days, and 18% thereafter, varying by month and section under which returns are filed.
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