CBIC issues clarification regarding various measures providing relief to the taxpayers

CBIC in order to ensure uniformity in implementation of the tax provisions, provides clarification w.r.t the manner of calculation of interest for taxpayers having aggregate turnover above/below Rs. 5 Crores as well as the manner of calculation of late fee; Clarification has been issued pursuant to various Notifications recently issued by CBIC providing relief to the taxpayers by reducing rate of interests, waiving of late fees, etc. for specified tax periods considering the ...