Interest on delayed GST returns revised: tiered late-filing rates and staged timelines effective from mid April. The notification inserts four entries prescribing staged interest treatment for delayed GST returns, distinguishing taxpayers by aggregate turnover and by return-filing category, and applying sequences of reduced and higher interest rates for initial grace periods followed by subsequent periods for returns for March and April 2021 and the quarter ending March 2021; the amendment is deemed effective from 18 April 2021.
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Provisions expressly mentioned in the judgment/order text.
Interest on delayed GST returns revised: tiered late-filing rates and staged timelines effective from mid April.
The notification inserts four entries prescribing staged interest treatment for delayed GST returns, distinguishing taxpayers by aggregate turnover and by return-filing category, and applying sequences of reduced and higher interest rates for initial grace periods followed by subsequent periods for returns for March and April 2021 and the quarter ending March 2021; the amendment is deemed effective from 18 April 2021.
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