Notification No. 51/2020 -Central Tax Dated 24th June, 2020 | RATE OF INTEREST ON DELAYED PAYMENT OF TAXES

RATE OF INTEREST ON DELAYED PAYMENT OF TAXES

Rate of interest applicable in case of delayed payment of taxes for the various tax periods has been notified.

Rate of interest applicable for delayed payment of tax in respect of various tax periods and categories of tax payers shall be as under:

Category of Taxpayers	Rate of Interest	Tax period
Tax Payers having aggregate turnover above Rs 5 Crores during the previous financial year	Nil if filed within 15 days of the due date and 9 per cent after that if filed before 24.06.2020	February 2020 ~April 2020

 

Category of Taxpayers	Tax period	Interest Rate Applicable
		Nil Interest upto	9% interest upto
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	Feb 2020	30.06.2020	30.09.2020
	March 2020	03.07.2020
	April 2020	06.07.2020
	May 2020	12.09.2020
	June 2020	23.09.2020
	July 2020	27.09.2020

 

Category of Taxpayers	Tax period	Interest Rate Applicable
		Nil Interest upto	9% interest upto
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	February 2020	30.06.2020	30.09.2020
	March 2020	05.07.2020
	April 2020	09.07.2020
	May 2020	15.09.2020
	June 2020	25.09.2020
	July 2020	29.09.2020

 

Notification No. 51/2020 -Central Tax Dated 24th June, 2020 |

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