Interest on delayed GST payments: revised stratified interest rates and filing periods clarified for specified taxpayers. Amendment substitutes the proviso wording to liable to pay tax but fail to do so, changes the Table heading from 'Tax period' to 'Month/Quarter', and replaces serial numbers 4-7 with provisions prescribing a graduated interest schedule for different classes of taxpayers (distinguished by aggregate turnover and the return provision under section 39) applicable to specified Months/Quarters. The notification is deemed to have come into force from 18th May, 2021.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest on delayed GST payments: revised stratified interest rates and filing periods clarified for specified taxpayers.
Amendment substitutes the proviso wording to liable to pay tax but fail to do so, changes the Table heading from "Tax period" to "Month/Quarter", and replaces serial numbers 4-7 with provisions prescribing a graduated interest schedule for different classes of taxpayers (distinguished by aggregate turnover and the return provision under section 39) applicable to specified Months/Quarters. The notification is deemed to have come into force from 18th May, 2021.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
