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THE MADHYA PRADESH GOODS AND SERVICES TAX ACT, 2017 Notification
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Body Notification No. F A 3-27-2017/1/FIVE-(54)-. Dated 30th 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 the Madhya Pradesh Goods and Services Tax Act, 2017 (No. 19 of 2017), the State Government, on the recommendations of the Goods and Service Tax Council, hereby, fixes the rate of interest per annum for the purpose of the sections as specified in column (2) of the Table below as mentioned hi the corresponding entry in column (3) of the said Table.

TABLE

Serial Number Sections 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 liable to pay tax but fail to do so for the months mentioned in the corresponding entry in column (4) of the said Table by the due date, namely:--

Table

S. No. (1) Class of registered persons

(2)

Rate of interest

(3)

Month/Quarter

(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 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 more than rupees 5 crores in the preceding financial year 9 per cent for the first 15 days from the due date and 18 per cent thereafter March, 2021, April, 2021 and May, 2021
4.

Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year who are liable to furnish the return as specified under subsection (1) of section 39 Nil for the first 15 days from the due date, 9 per cent for the next 45 days, and 18 per cent thereafter March, 2021
    Nil for the first 15 days from the due date, 9 per cent for the next 30 days, and 18 per cent thereafter April, 2021
    Nil for the first 15 days from the due date, 9 per cent for the next 15 days, and 18 per cent thereafter May, 2021
5.

Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year who are liable to furnish the return as specified under proviso to sub-section (1) of section 39 Nil for the first 15 days from the due date, 9 per cent for the next 45 days, and 18 per cent thereafter March, 2021
    Nil for the first 15 days from the due date, 9 per cent for the next 30 days, and 18 per cent thereafter April, 2021
    Nil for the first 15 days from the due date, 9 per cent for the next 15 days, and 18 per cent thereafter May, 2021
6 Taxpayers who are liable to furnish the return as specified under sub-section (2) of section 39 Nil for the first 15 days from the due date, 9 per cent for the next 45 days, and 18 per cent thereafter Quarter ending March, 2021

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

By order and in the name of the Governor of Madhya Pradesh,

Arun Parmar,

Dy. Secy.