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 Punjab Goods and Services Tax Act, 2017 (Punjab Act No.5 of 2017), and all other powers enabling him in this behalf, the Governor of Punjab, on the recommendations of the Council, is pleased to fix 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
Provided that the rate of interest per annum shall be as specified in column (3) of the Table given below for the period mentioned in column (4) therein, for the class of registered persons mentioned in the corresponding entry in column (2) of the said Table, who are 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 corresponding entry in
column (4) of the said Table by the due date, namely:-
April,2021
2. This notification shall come into force on and with effect from the 1st day of July, 2017.
A. VENU PRASAD,
Financial Commissioner and Secretary to Government of Punjab,
Department of Excise and Taxation