Rate of interest u/s 50(1), u/s 50(3), u/s 54 and u/s 56 of the CGST Act, 2017

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....f the Table below, as mentioned in the corresponding entry in column (3) of the said Table. Table Serial Number Section Rate of interest (in per cent) (1) (2) (3) 1. Sub-section (1) of section 50 18 2. sub-section (3) of section 50 ^7[18] 3. sub-section (12) of section 54 6 4. section 56 6 5. proviso to section 56 9 ^2[Provided that the rate of interest per annum shall be as specified in column (3) of the Table given below for the period mentioned therein, for the class of registered persons mentioned in the corresponding entry in column (2) of the said Table, who are ^4[liable to pay tax but fail to do so] for the months mentioned in the corresponding entry in colum....

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....of September, 2020, and 9 per cent thereafter till the 30th day of September, 2020 July, 2020   3. Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year, whose principal place of business is in the States of Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha or the Union territories of Jammu and Kashmir, Ladakh, Chandigarh and Delhi Nil till the 30th day of June, 2020, and 9 per cent thereafter till the 30th day of September, 2020 February, 2020   Nil till the 5th day of July, 2020, and 9 per cent thereafter till the 30th d....

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.... furnish the return as specified under proviso to sub-section (1) of section 39 Nil for the first 15 days from the due date, 9 per cent for the next 45 days, and 18 per cent thereafter March, 2021 Nil for the first 15 days from the due date, 9 per cent for the next 30 days, and 18 per cent thereafter April, 2021 Nil for the first 15 days from the due date, 9 per cent for the next 15 days, and 18 per cent thereafter May, 2021 7. Taxpayers who are liable to furnish the return as specified under sub-section (2) of section 39 Nil for the first 15 days from the due date, 9 per cent for the next 45 days, and 18 per cent thereafter Quarter ending March, 2021] 2. This notification shall come into forc....

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....s in the preceding financial year Nil February, 2020, March, 2020 If return in FORM GSTR-3B is furnished on or before the 29^th day of June, 2020 April, 2020 If return in FORM GSTR-3B is furnished on or before the 30^th day of June, 2020 3. Taxpayers having an aggregate turnover of up to rupees 1.5 crores in the preceding financial year Nil February, 2020 If return in FORM GSTR-3B is furnished on or before the 30^th day of June, 2020 March, 2020 If return in FORM GSTR-3B is furnished on or before the 3^rd day of July, 2020 April, 2020 If return in FORM GSTR-3B is furnished on or before the 6^th day of July, 2020.]" 3. Inserted vide Notification No. 08/2021- Central Tax dated 01-05-2021 w.e.f. 18-....