Amendment to Interest Rates for Delayed GST Returns

Notification Overview: The Central Government alters interest rates for delayed filing of GST returns under the Union Territory Goods and Services Tax Act, 2017.

Addition of Provisos: Inserts new provisos in the first paragraph specifying interest rates based on taxpayer turnover and filing conditions.

Interest Rate Table: Lists classes of registered persons, applicable interest rates, tax periods, and conditions for filing FORM GSTR-3B.

Distinct Turnover Criteria: Differentiates between taxpayers based on aggregate turnover, with separate interest rates for different financial years.

Filing Conditions: Provides specific dates by which returns must be filed to qualify for nil interest rates or reduced penalties.

Effective Date: The amendment takes effect from the 20th day of March, 2020. Issuing Authority: Pramod Kumar, Director, Government of India, issues the notification.

Reference to Principal Notification: Refers to the original notification dated June 30, 2017, without any subsequent amendments mentioned.