Interest on delayed GST payments revised with graded rates and specified timelines for different taxpayer categories. Amendment replaces the default phrase with liable to pay tax but fail to do so, changes the table heading to 'Month/Quarter', and substitutes serial entries three to six to impose a graded interest regime for different taxpayer categories based on aggregate turnover and return furnishing obligations, specifying nil, intermediate and higher interest phases from the due date for March, April, May 2021 and the quarter ending March 2021; the amendment is effective from 18th May 2021.
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Provisions expressly mentioned in the judgment/order text.
Interest on delayed GST payments revised with graded rates and specified timelines for different taxpayer categories.
Amendment replaces the default phrase with liable to pay tax but fail to do so, changes the table heading to "Month/Quarter", and substitutes serial entries three to six to impose a graded interest regime for different taxpayer categories based on aggregate turnover and return furnishing obligations, specifying nil, intermediate and higher interest phases from the due date for March, April, May 2021 and the quarter ending March 2021; the amendment is effective from 18th May 2021.
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