Notification No. 1/2020 – Union Territory Tax: Seeks to provide relief by conditional lowering of interest rate for tax periods of February, 2020 to April, 2020.

Important keyword: F. No. CBEC-20/06/04/2020-GST, Section 21 UTGST Act 2017, Section 50(1) CGST Act 2017, Section 148 CGST Act 2017, Notification No. 1/2020 – Union Territory Tax.

[F. No. CBEC-20/06/04/2020-GST]
Government of India
Ministry of Finance
(Department of Revenue)
Central Board of Indirect Taxes and Customs

New Delhi, the 8th April, 2020

Notification No. 1/2020 – Union Territory Tax

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

G.S.R…..(E).—In exercise of the powers conferred by section 21 of the Union Territory Goods and Services Tax Act, 2017 (14 of 2017), read with sub-section (1) of section 50 and section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017), 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. 10/2017– Union Territory Tax, dated the 30^th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 747(E), dated the 30^th 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 year	Nil for first 15 days   from the due date, and 9 percent thereafter	February,2020, March 2020, April, 2020	If return in FORM GSTR-3Bis 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 year	Nil	February, 2020, March, 2020	If return in FORM GSTR-3B is furnished on or before the 29th day of June, 2020
			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.”.

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

(Pramod Kumar)
Director,
Government of India

Note: The principal notification number 10/2017 – Union Territory Tax, dated the 30^th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.747(E), dated the 30^th June, 2017.

Read More: Notification No. 05/2020 – Integrated Tax: Seeks to provide relief by lowering of interest rate for a prescribed time for tax periods from February, 2020 to July, 2020.

Web Stories: Notification No. 05/2020 – Integrated Tax: 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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