Late fee schedule updated for taxpayers by turnover and return type, imposing staged percentage rates after the filing due date. The amendment adds a table to Notification No. 13/2017 prescribing staged percentage rates after the due date for specified return periods, differentiating taxpayers by aggregate turnover and return-filing category: for certain categories Nil for the first 15 days from the due date, 9 per cent for the next 15 days, and 18 per cent thereafter; for higher-turnover taxpayers 9 per cent for the first 15 days and 18 per cent thereafter. The change is made under section 50(1) read with section 148 and is deemed operative from 18th April, 2021.
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Late fee schedule updated for taxpayers by turnover and return type, imposing staged percentage rates after the filing due date.
The amendment adds a table to Notification No. 13/2017 prescribing staged percentage rates after the due date for specified return periods, differentiating taxpayers by aggregate turnover and return-filing category: for certain categories Nil for the first 15 days from the due date, 9 per cent for the next 15 days, and 18 per cent thereafter; for higher-turnover taxpayers 9 per cent for the first 15 days and 18 per cent thereafter. The change is made under section 50(1) read with section 148 and is deemed operative from 18th April, 2021.
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