Central Tax Notifications

CGST Notification 31/2020

Title Seeks to provide relief by conditional lowering of interest rate for tax periods of February, 2020 to April, 2020.
Number 31/2020
Date 03-04-2020
PDF Download

1) In exercise of the powers conferred by sub-section (1) of section 50 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), read with section 148 of the said Act, 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.13/2017 – Central 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. 661(E), dated the 28th 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.Class of registered personsRate of interestTax periodCondition
(1)(2)(3)(4)(5)
1.Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial yearNil for first 15 days from the due date, and 9 per cent thereafterFebruary, 2020, March 2020, April, 2020If return in FORM GSTR-3B is furnished on or before the 24th day of June, 2020
2Taxpayers having an aggregate turnover of more than rupees 1.5 crores and up to rupees five crores in the preceding financial yearNilFebruary, 2020, March, 2020If return in FORM GSTR-3B is furnished on or before the 29th day of June, 2020
April, 2020If 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 yearNilFebruary, 2020If return in FORM GSTR-3B is furnished on or before the 30th day of June, 2020
March, 2020If return in FORM GSTR-3B is furnished on or before the 3 rd day of July, 2020
April, 2020If return in FORM GSTR-3B is furnished on or before the 6 th day of July, 2020.”

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