Rate of interest u/s 50(1), u/s 50(3), u/s 54 and u/s 56 of the CGST Act, 2017
13/2017 Dated:- 28-6-2017 Central GST (CGST)
GST
CGST
CGST
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
Notification No. 13/2017 – Central Tax
New Delhi, the 28th June, 2017
7 Ashadha, 1939 Saka
G.S.R. 661(E).-In exercise of the powers conferred by sub-sections (1) and (3) of section 50, sub-section (12) of section 54 and section 56 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby fixes 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.
Sub-section (1) of section 50
18
2.
sub-section (3) of section 50
7[18]
3.
sub-section (12) of sect
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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
Nil till the 3rd day of July, 2020, and 9 per cent thereafter till the 30th day of September, 2020
March, 2020
Nil till the 6th day of July, 2020, and 9 per cent thereafter till the 30th day of September, 2020
April, 2020
Nil till the 12th day of September, 2020, and 9 per cent thereafter till the 30th day of September, 2020
May, 2020
Nil till the 23rd day of September, 2020, and 9 per cent thereafter till the 30th day of September, 2020
June, 2020
Nil till the 27th day of September, 2020, and 9 per cent thereafter till the 30th day of September, 2020
July, 2020
3.
Taxpayers having an aggregate tu
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une, 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 per cent for the first 15 days from the due date and 18 per cent thereafter
March, 2021, April, 2021 and May, 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 45 days, and 18 per cent thereafter
March, 2021
Nil for the first 15 days from the due date, 9 per cent for the next 30 days, and 18 per cent thereafter
April, 2021
Nil for the first 15 days from the due date, 9 per cent for the next 15 days, and 18 per cent thereafter
May, 2021
6.
Taxpayers having an aggregate turnover of up to rupees 5 crores in the pr
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0 w.e.f. 20-03-2020
2. Substituted vide Notification No. 51/2020 – Central 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 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
Sl. No.
Class of registered persons
Rate of interest
Tax period
Condition
(1)
(2)
(3)
(4)
(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 per cent thereafter
February, 2020, Mar
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6-2021 w.e.f. 18-05-2021 before it was read as
“required to furnish the returns in FORM GSTR-3B, but fail to furnish the said return along with payment of tax”
5. Substituted vide Notification No. 18/2021 – Central Tax dated 01-06-2021 w.e.f. 18-05-2021 before it was read as “Tax period”
6. Substituted vide Notification No. 18/2021 – Central Tax dated 01-06-2021 w.e.f. 18-05-2021 before it was read as
“3[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 per cent thereafter
March, 2021,
April, 2021
6.
Taxpayers having an aggregate turnover of
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