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of <h1>Mizoram GST Act Updated: New Interest Rates for Late Payments Based on Turnover; Effective from May 18, 2021.</h1> The Government of Mizoram has amended Notification No. J.21011/1/2017-TAX/vol-ll(ii) under the Mizoram Goods and Services Tax Act, 2017. The amendments include changes to the language regarding tax liabilities and adjustments to the interest rates for late tax payments. For taxpayers with an annual turnover exceeding 5 crores, the interest is 9% for the first 15 days after the due date, increasing to 18% thereafter. For those with a turnover up to 5 crores, the interest is nil for the first 15 days, 9% for the subsequent period, and 18% thereafter, varying by month. The amendments are effective from May 18, 2021.
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