Seeks to provide relief by lowering of interest rate for the month of March and April, 2021 - 01/2021 - Integrated GST (IGST)

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION No. 01/2021 Integrated Tax New Delhi, the 1st May, 2021 G.S.R. 311(E). -In exercise of the powers conferred by section 20 of the Integrated Goods and Services Tax Act, 2017 (13 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 Government, on the recommendations of the Council, hereby makes the following further amendment in notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 6/2017 Integrated Tax, dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 698(E), dated the 28th June, 2017, namely: (i) In the said notification, in the first paragraph, in the first proviso, in the Table after S. No. 3, the following shall be inserted, namely: (1) (2) (3) (4) 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 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 15 days, and 18 percent thereafter March, 2021, April, 2021 6. 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 proviso to sub-section (1) of section 39 Nil for the first 15 days from the due date, 9 per cent for the next 15 days, and 18 per cent thereafter March, 2021, April, 2021 7. Taxpayers who are liable to furnish the return as specified under sub-section (2) of section 39 Nil for the first 15 days from the due date, 9 per cent for the next 15 days, and 18 per cent thereafter Quarter ending March, 2021. . 2. This notification shall be deemed to have come into force with effect from the 18th day of April, 2021. [F. No. CBEC-20/06/08/2020-GST] RAJEEV RANJAN, Under Secy. Note: The principal notification number 06/2017 Integrated Tax, dated the 28th June, 2017, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 698(E), dated the 28th June, 2017 and was last amended vide notification number 5/2020 Integrated Tax, dated the 24th June, 2020, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.410(E), dated the 24th June, 2020.