Day: April 1, 2020

Relaxations provided on compliances to be met by units / developers / co‐developers of SEZs

125 ViewsMinistry of Commerce & Industry In view of the sudden outbreak of COVID‐19 pandemic and the nation‐wide lock‐down, most government offices are closed and a few involved in emergency services etc., are functioning with skeletal staff. The Department of Commerce has therefore decided to provide suitable relaxations on compliances to be met by units …

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Clarification on GST refund related issues

302 ViewsCircular No.135/05/2020 – GST CBEC-20/01/06/2019-GSTGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes and CustomsGST Policy Wing New Delhi, Dated the 31st March, 2020 To,The Principal Chief Commissioners/Chief Commissioners/Principal Commissioners/ Commissioners of Central Tax (All)The Principal Director Generals/ Director Generals (All)Madam/Sir, Subject: Clarification on refund related issues – Reg. Various representations have …

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FREQUENTLY ASKED QUESTIONS : RBI Allowed Banks to Declare Moratorium on Term Loans

429 ViewsMinistry of Finance Last week, the Reserve Bank of India has allowed Banks to declare a three-month moratorium on all term loans outstanding as on March 1, 2020, as well as on working capital facilities. The Indian Banks Association has answered a list of Frequently Asked Questions about the technicalities of the moratorium. QUESTION 1: When/what was the …

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Data about Items used in treatment of COVID-19 (Coronavirus) produced by MSMEs

181 ViewsIn continuation of our email dated March 26, 2020, for the subject “Information about Health Care Items used in COVID-19 (Coronavirus)”, Ministry of Micro, Small and Medium Enterprises, Government of India, would like to reach out to you again and seek your help. If you are in the field of manufacturing or supply of …

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Exchange Rate Notification No.35/2020 – Customs (N.T.)

336 ViewsMinistry of Finance In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes and Customs hereby makes the following amendment in the Notification of the Central Board of Indirect Taxes and Customs No.27/2020-CUSTOMS (N.T.), dated 19thMarch, 2020 with effect from 31st March, …

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Finance Ministry issues Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020 today

588 ViewsMinistry of Finance In order to give effect to the announcements made by the Union Finance Minister vide Press Release dated 24.03.2020, regarding several relief measures relating to statutory and regulatory compliance matters across sectors in view of COVID-19 outbreak, the govt has brought in an Ordinance on 31.03.2020 which provides for extension of various time …

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