Circular No.ES/21/2020-21 6th April, 2020
To: Members of the Council
Sub.: CBIC provides relief by conditional lowering of interest rate for tax periods of February, 2020 to April, 2020.
We would like to inform you that CBIC has issued Notification No. 31/2020- Central Tax dated 3rd April, 2020 providing relief by conditional lowering of interest rate for tax periods of February, 2020 to April, 2020.
The rate of interest per annum has been specified in the below Table for the registered persons, 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 Table by the due date, but furnish the said return according to the given condition-
This notification shall be deemed to have come into force w.e.f. 20th March, 2020.
Members may kindly make a note of the above.