THE JAMMU AND KASHMIR GOODS AND SERVICES TAX ACT, 2017 Notifications
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Body Notification No. SRO 300.Dated 18th July, 2017

In exercise of the powers conferred by sub-sections (l) and (3) of section 50, sub-section (12) of section 54 and section 56 of the Jammu and Kashmir Goods and Services Tax Act, 2017 (12 of 2017), the State Government, 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.

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

Provided that the rate of interest per annum shall be as specified in column (3) of the Table given below for the period mentioned 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:--

Table

S. No.	Class of registered persons	Rate of interest	Tax period
(1)	(2)	(3)	(4)
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 Union territory of Jammu and Kashmir	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 15 th day of September, 2020, and 9 per cent thereafter till the 30 th day of September, 2020	May, 2020
		Nil till the 25th day of September, 2020, and 9 per cent thereafter till the 30 th day of September, 2020	June, 2020
		Nil till the 29th day of September, 2020, and 9 per cent thereafter till the 30 th day of September, 2020	July, 2020.

This Notification shall deemed to have come into force with effect from 8th July, 2017.

By order of the Government of Jammu and Kashmir.

Sd/-

(Navin K. Choudhary), IAS

Commissioner/Secretary to Government, Finance Department.