Seeks to provide relief by lowering of interest rate for a prescribed time for tax periods from February, 2020 to July, 2020

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....ATION (22/2020) In exercise of the powers conferred by sub-section (1) of Section 50 of the Karnataka Goods and Services Tax Act, 2017 (Karnataka Act 27 of 2017) read with Section 148 of the said Act, the Government of Karnataka, on the recommendations of the Council, hereby makes the following further amendment in Government of Karnataka Notification (13/2017) No. FD 47 CSL 2017, dated the 29t....

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.... (2) Rate of interest (3) Tax period (4) 1. Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year Nil for first 15 days from the due date, and 9 per cent thereafter till 24th day of June, 2020 February, 2020, March 2020, April, 2020 2. Taxpayers having an aggregate turnover of up to rupees 5 crores in the....