TMI BlogRate of interest u/s 50(1), u/s 50(3), u/s 54 and u/s 56 of the CGST Act, 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... ified in column (2) of 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tember, 2020 February, 2020 Nil till the 3rd day of July, 2020, and 9 per cent thereafter till the 30th day of September, 2020 March, 2020 Nil till the 6th day of July, 2020, and 9 per cent thereafter till the 30th day of September, 2020 April, 2020 Nil till the 12th day of September, 2020, and 9 per cent thereafter till the 30th day of September, 2020 May, 2020 Nil till the 23rd day of September, 2020, and 9 per cent thereafter till the 30th day of September, 2020 June, 2020 Nil till the 27th day o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r till the 30th day of September, 2020 July, 2020. ] 6 [ 4. Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year 9 per cent for the first 15 days from the due date and 18 per cent thereafter March, 2021, April, 2021 and May, 2021 5. Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year who are liable to furnish the return as specified under 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 day ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 [ 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 Sl. No. Class of registered persons Rate of interest Tax period Conditi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , 2020. ] 3. Inserted vide NOTIFICATION NO. 08/2021- Central Tax dated 01-05-2021 w.e.f. 18-04-2021 4. Substituted vide NOTIFICATION NO. 18/2021 Central Tax dated 01-06-2021 w.e.f. 18-05-2021 before it was read as required to furnish the returns in FORM GSTR-3B , but fail to furnish the said return along with payment of tax 5. Substituted vide NOTIFICATION NO. 18/2021 Central Tax dated 01-06-2021 w.e.f. 18-05-2021 before it was read as Tax period 6. Substituted vide NOTIFICATION NO. 18/2021 Central Tax dated 01-06-2021 w.e.f. 18-05-2021 before it was read as 3 [ 4. Taxpayers having an aggregate turnover of more than rupees 5 crores in the p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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