Provide relief by conditional lowering of GST Interest rate for tax periods of February, 2020 to April, 2020.

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[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)]

Government of India
Ministry of Finance
(Department of Revenue)
Central Board of Indirect Taxes and Customs
Notification No. 31/2020 – Central Tax

New Delhi, the 3rd April, 2020

G.S.R…..(E).—In exercise of the powers conferred by sub-section (1) of section 50 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), read with section 148 of the said Act, the Central Government, on the recommendations of the Council, hereby makes the following amendment in notification of the Government of India in the Ministry of Finance (Department of Revenue), No.13/2017 – Central Tax, dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 661(E), dated the 28th June, 2017, namely:–

In the said notification, in the first paragraph, the following provisos shall be inserted, namely: –

“Provided that, the rate of interest per annum shall be as specified in column (3) of the Table given below, for the class of registered persons, mentioned in the corresponding entry in column (2) of the said Table, who are required to furnish the returns in FORM GSTR-3B, but fail to furnish the said return along with payment of tax for the months mentioned in the corresponding entry in column (4) of the said Table by the due date, but furnish the said return according to the condition mentioned in the corresponding entry in column (5) of the said Table, namely:–

Table

S.No. (1) Class of registered persons
(2)
Rate of interest
(3)
Tax period
(4)
Condition
(5)
1.Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial yearNil for first 15 days from the due date, and 9 per cent thereafterFebruary, 2020, March 2020, April 2020If return in FORM GSTR-3B is furnished on or before the 24th day of June, 2020
2.Taxpayers having an aggregate turnover of more than rupees 1.5 crores and up to rupees five crores in the preceding financial yearNilFebruary, 2020, March, 2020




————–
April , 2020
If return in FORM GSTR-3B is furnished on or before the 29th day of June, 2020
—————— If return in FORM GSTR-3B is furnished on or before the 30th day of June, 2020
3. Taxpayers having an aggregate turnover of up to rupees 1.5 crores in the preceding financial yearNil February, 2020
————–March, 2020










————–April, 2020
If return in FORM GSTR-3B is furnished on or before the 30th day of June, 2020
——————–If return in FORM GSTR-3B is furnished on or before the 3rd day of July, 2020
——————–If return in FORM GSTR-3B is furnished on or before the 6th day of July, 2020.”.

2. This notification shall be deemed to have come into force with effect from the 20th day of March, 2020.

[F. No. CBEC-20/06/04/2020-GST]
(Pramod Kumar)
Director, Government of India

Note: The principal notification number 13/2017 – Central Tax, dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.661(E), dated the 28th June, 2017.


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