Integrated Tax Notifications

IGST Notification 02/2021

Title	Seeks to provide relief by lowering of interest rate for a specified time for tax periods March, 2021 to May, 2021.
Number	02/2021
Date	01-06-2021
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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 28^th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section

• vide number S.R. 698(E), dated the 28^th June, 2017, namely: —

In the said notification, in the first paragraph, in the first proviso,-

 

• for the words, letters and figure “required to furnish the returns in FORM GSTR-3B, but fail to furnish the said return along with payment of tax”, the words “liable to pay tax but fail to do so” shall be substituted;

 

• in the Table, in column 4, in the heading, for the words “Tax period”, the words “Month/Quarter” shall be substituted;
• in the Table, for serial number 4, 5, 6 and 7, the following shall be substituted, 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 and May, 2021
5.	Taxpayers   having   an  aggregate turnover of up to rupees 5 crores	Nil  for  the  first   15 days   from   the  due	March, 2021

 

	in the preceding financial year who are liable to furnish  the return as specified under sub- section (1) of section 39	date,  9  per  cent  for the next 45 days, and 18 per cent thereafter
		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 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 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
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 45 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 18^th day of May, 2021.