• CCI AD FROM 5th April 2021

CBIC provides relief by lowering of interest rate for the months of March and April, 2021

Circular No. ES/33/2021-22                                                                        3rd May, 2021          

                    

To: Members of the Council      

    

Sub: CBIC provides relief by lowering of interest rate for the months of March and April, 2021 

  

Dear Member,      

 

We would like to inform you that CBIC has issued Notification No. 08/2021 – Central Tax dated 1st May, 2021 by making the following further amendments in Notification No. 13/2017 – Central Tax dated 28th June, 2017 to provide relief by lowering of interest rate for the month of March and April, 2021 

 
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% for the first 15 days from the due date and 18% 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% for the next 15 days, and 18% 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% for the next 15 days, and 18% 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% for the next 15 days, and 18% thereafter 

Quarter ending March, 2021.”. 

 

Further, CBIC has also issued the following notifications in this regard- 

 

 

Please note that this notification shall be deemed to have come into force w.e.f.  18th April,  2021. 

 

Members may kindly make a note of the above. 

 

Thanking you,  
 
Yours faithfully,  
 
S. BALARAJU  
EXECUTIVE DIRECTOR