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THE TAMILNADU GOODS AND SERVICES TAX ACT, 2017 Notification History
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Body NOTIFICATION No. II(2)/CTR/532(d-3)/2017. G.O. Ms. No. 61, Commercial Taxes and Registration (B1), Dated 29th June 2017.

In exercise of the powers conferred by sub-sections (1) and (3) of section 50, sub-section (12) of section 54 and section 56 of Tamil Nadu Goods and Services Tax Act, 2017 (Tamil Nadu Act 19 of 2017), the Governor of Tamil Nadu, on the recommendations of the Council, hereby fixes the rate of interest per annum, for the purposes of the sections as specified in column (2) of the Table below, as mentioned in the corresponding entry in column (3) of the said Table.

Table

Serial Number Section Rate of interest (in per cent)
(1) (2) (3)
1 sub-section (1) of section 50 18
2 sub-section (3) of section 50 24
3 sub-section (12) of section 54 6
4 section 56 6
5 proviso to section 56 9

TABLE

Sl. No. (1) Class of registered persons

(2)

Rate of interest

(3)

Tax period

(4)

Condition

(5)

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 February, 2020, March 2020, April, 2020 If return in FORM GSTR-3B is furnished on or before the 24th day of June, 2020
2

Taxpayers having an aggregate turnover of more than rupees 1.5 crores and up to rupees five crores in the preceding financial year Nil February, 2020, March, 2020 If return in FORM GSTR-3B is furnished on or before the 29th day of June, 2020
April, 2020 If return in FORM GSTR-3B is furnished on or before the 30th day of June, 2020
3

Taxpayers having an aggregate turnover of up to rupees 1.5 crores in the preceding financial year Nil February, 2020 If return in FORM GSTR-3B is furnished on or before the 30th day of June, 2020
March, 2020 If return in FORM GSTR-3B is furnished on or before the 3rd day of July, 2020
April, 2020 If return in FORM GSTR-3B is furnished on or before the 6th day of July, 2020.

2. This notification shall come into force from the 1st day of July, 2017.

Dr. C. CHANDRAMOULI,

Additional Chief Secretary to Government (FAC).