Telangana Amends GST Notification: New Interest Rates for Late Tax Payments Based on Turnover Effective April 2021.

The Government of Telangana has amended Notification No. 122, dated June 30, 2017, under the Telangana Goods and Services Tax Act, 2017. The amendments modify the language regarding taxpayers' obligations to pay taxes and adjust interest rates for late payments. For taxpayers with an aggregate turnover exceeding 5 crores, the interest rate is 9% for the first 15 days post due date, increasing to 18% thereafter. For those with turnovers 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 notification is effective from April 18, 2021.