The Central Board of Indirect Taxes and Customs (CBIC) on April 08, 2024, notified the rate of interest for certain classes of registered persons who were required to furnish the return in FORM GSTR-3B.
The following has been stated: -
•In exercise of the powers conferred by sub-section (1) of section 50 read with section 148 of the Central Goods and Services Tax Act, 2017, the Government, on the recommendations of the Council, notified the rate of interest per annum to be ‘Nil’, for the class of registered persons mentioned in column (1) of the Table given below, who were required to furnish the return in FORM GSTR-3B, but failed to furnish the return for the months mentioned against the corresponding entry in column (2) of the Table by the due date, for the period mentioned against the corresponding entry in column (3) of the Table below.
[Notification No. 07/2024 – Central Tax]
