Interest rate modification for delayed GST payments yields staged reduced interest for specified months for eligible taxpayers. Amendment substitutes the phrase liable to pay tax but fail to do so, changes the Table heading to 'Month/Quarter,' and prescribes staged interest rates for specified tax periods (March-May 2021 and quarter ending March 2021) with different schedules based on aggregate turnover and return-filing category; the notification is deemed effective from 18 May 2021.
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Provisions expressly mentioned in the judgment/order text.
Interest rate modification for delayed GST payments yields staged reduced interest for specified months for eligible taxpayers.
Amendment substitutes the phrase liable to pay tax but fail to do so, changes the Table heading to "Month/Quarter," and prescribes staged interest rates for specified tax periods (March-May 2021 and quarter ending March 2021) with different schedules based on aggregate turnover and return-filing category; the notification is deemed effective from 18 May 2021.
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