Circular No. ES/216/2020-21 26th June, 2020
To : Members of the Council
Sub.: Seeks to provide relief by lowering of interest rate for a prescribed time for tax periods from February, 2020 to July, 2020.
Dear Member,
CBIC has issued Notification No. 51/2020-Central Tax dated 24th June, 2020 notifying lowered interest rate for a prescribed time for tax periods from February, 2020 to July, 2020 for delayed filing of GSTR 3B.
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S. No.
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Class of registered persons
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Rate of interest
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Tax period
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1
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Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year
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Nil for first 15 days from the due date, and 9 per cent thereafter till 24th June, 2020
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February, 2020, March 2020, April, 2020
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2
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Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year, whose principal place of business is in the States of Chhattisgarh, Madhya 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
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Nil till 30th June, 2020, and 9 per cent thereafter till 30th September, 2020
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February, 2020
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Nil till 3rd July, 2020, and 9 per cent thereafter till 30th September, 2020
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March, 2020
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Nil till 6th July, 2020, and 9 per cent thereafter till 30th September, 2020
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April, 2020
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Nil till 12th September, 2020, and 9 per cent thereafter till 30th September, 2020
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May, 2020
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Nil till 23rd September, 2020, and 9 per cent thereafter till 30th September, 2020
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June, 2020
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Nil till 27th September, 2020, July, 2020 and 9 per cent thereafter till 30th September, 2020
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July, 2020
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3
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Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year, whose principal place of business is in the States of Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha or the Union territories of Jammu and Kashmir, Ladakh, Chandigarh and Delhi
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Nil till 30th June, 2020, and 9 per cent thereafter till 30th September, 2020
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February, 2020
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Nil till 5th July, 2020, and 9 per cent thereafter till 30th September, 2020
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March, 2020
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Nil till 9th July, 2020, and 9 per cent thereafter till 30th September, 2020
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April, 2020
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Nil till 15th September, 2020, and 9 per cent thereafter till 30th September, 2020
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May, 2020
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Nil till 25th September, 2020, and 9 per cent thereafter till 30th September, 2020
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June, 2020
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Nil till 29th September, 2020, and 9 per cent thereafter till 30th September, 2020
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July, 2020
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Members may kindly make a note of the above.
Thanking you,
Yours faithfully,
S.BALARAJU
EXECUTIVE DIRECTOR
