TMI BlogSeeks to prescribe rate of interest under IGST Act, 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... s the rate of interest per annum, for the purposes of the sections as specified 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. Section 20 of the Integrated Goods and Services Tax Act, 2017 read with sub-section (1) of section 50 of the Central Goods and Services Tax Act, 2017 18 2. section 20 of the Integrated Goods and Services Tax Act, 2017 read with sub-section (3) of section 50 of the Central Go ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 preceding financial year, whose principal place of business is in the States of Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep Nil till the 30th day of June, 2020, and 9 per cent thereafter till the 30th day of September, 2020 February, 2020 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Nil till the 9th day of July, 2020, and 9 per cent thereafter till the 30th day of September, 2020 April, 2020 Nil till the 15th day of September, 2020, and 9 per cent thereafter till the 30th day of September, 2020 May, 2020 Nil till the 25th day of September, 2020, and 9 per cent thereafter till the 30th day of September, 2020 June, 2020 Nil till the 29th day of September, 2020, and 9 per cent thereafter 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 force from the 1st day of July, 2017. [F. No.349/72/2017-GST] (Dr. Sreeparvathy S.L.) Under Secretary to the Government of India *************** NOTES:- 1. Inserted vide NOTIFICATION No. 3/2020 Integrated Tax dated 08-04-2020 w.e.f. 20-03-2020 2. Substituted vide Notification No. 05/2020 Integrated Tax dated 24-06-2020 before it was read as 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 c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... April, 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 year Nil February, 2020 If return in FORM GSTR-3B is furnished on or before the 30th day of June, 2020 March, 2020 If return in FORM GSTR-3B is furnished on or before the 3rd day of July, 2020 April, 2020 If return in FORM GSTR-3B is furnished on or before the 6th day of July, 2020. ] 3. Inserted vide NOTIFICATION No. 0 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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