Nil Interest Rate for Delayed Filing: Relief for E-commerce Operators
Government Notification:
The government, through G.S.R. (E), exercises its powers under the Central Goods and Services Tax Act to notify a 'Nil' rate of interest for specific registered persons.
Applicable Class:
The class of registered persons mentioned in the table, primarily electronic commerce operators, benefits from this notification.
Due-date Delay:
The relief is extended to those who failed to file the statement in FORM GSTR-8 for specified months due to technical glitches on the portal.
Effective Period:
The 'Nil' interest rate is applicable from the date of depositing tax till the filing of the statement under sub-section (4) of section 52.
Tax Periods Covered:
The relief covers tax periods for the months of September 2020 to January 2021 and December 2020 for specific GST Identification Numbers.
Under Secretary's Authority:
Under Secretary Rajeev Ranjan's endorsement adds an official and authoritative touch to the notification.
Compliance Window:
This measure provides a reasonable window for affected operators to rectify filing delays without incurring interest.
Note: The Nil interest rate offers financial respite to eligible operators, acknowledging and addressing technical challenges in compliance.