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[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 31/2020 Central Tax New Delhi, the 3rd April, 2020 G.S.R.....(E).In exercise of the powers conferred by sub-section (1) of section 50 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act),
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FAQ :
The notification aims to provide relief by conditionally lowering the interest rate for GST payments.
The reduced interest rate applies to the tax periods of February 2020 to April 2020.
This notification is made under the powers conferred by sub-section (1) of section 50 of the Central Goods and Services Tax Act, 2017.
The Central Government made this amendment on the recommendations of the Council.
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Source : http://www.cbic.gov.in/htdocs-cbec/gst/notfctn-31-central-tax-english-2020.pdf