Circular No. ES/ 222 /2020-21 27th 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. 02/2020–Union Territory Tax dated 24th June, 2020 by making amendments in Notification No. 10/2017 – Union Territory Tax, dated the 30th June, 2017 in order to provide relief by lowering of interest rate for a prescribed time for tax periods from February, 2020 to July, 2020.
S. No.
|
Class of registered persons
|
Rate of interest
|
Tax period
|
1
|
Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year
|
Nil for first 15 days from the due date, and 9 per cent thereafter till 24th day of June, 2020
|
February, 2020, March 2020, April, 2020
|
2
|
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
|
Nil till the 30th day of June, 2020, and 9 per cent thereafter till the 30th day of September, 2020
|
February, 2020
|
Nil till the 3rd day of July, 2020, and 9 per cent thereafter till the 30th day of September, 2020
|
March, 2020
|
Nil till the 6th day of July, 2020, and 9 per cent thereafter till the 30th day of September, 2020
|
April, 2020
|
Nil till the 12th day of September, 2020, and 9 per cent thereafter till the 30th day of September, 2020
|
May, 2020
|
Nil till the 23rd day of September, 2020, and 9 per cent thereafter till the 30th day of September, 2020
|
June, 2020
|
Nil till the 27th day of September, 2020, and 9 per cent thereafter till the 30th day of September, 2020
|
July, 2020
|
3
|
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
|
Nil till the 30th day of June, 2020, and 9 per cent thereafter till the 30th day of September, 2020
|
February, 2020
|
Nil till the 5th day of July, 2020, and 9 per cent thereafter till the 30th day of September, 2020
|
March, 2020
|
Nil till the 9th day of July, 2020, and 9 per cent thereafter till the 30th day of September, 2020
|
April, 2020
|
Nil till the 15th day of September, 2020, and 9 per cent thereafter till the 30th day of September, 2020
|
May, 2020
|
Nil till the 25th day of September, 2020, and 9 per cent thereafter till the 30th day of September, 2020
|
June, 2020
|
Nil till the 29th day of September, 2020, and 9 per cent thereafter till the 30th day of September, 2020
|
July, 2020
|
Members may kindly make a note of the above.
Thanking you,
Yours faithfully,
S.BALARAJU
EXECUTIVE DIRECTOR