Union Minister for MSME and Road Transport and Highways Shri Nitin Gadkari has said that the relief package announced by the Union Government for different stakeholders/sectors including MSME, labour, agriculture etc. and the new definition of MSMEs will give huge boost to industry. He called for exploring the rating of MSMEs and asked the participants …
The Ministry of Corporate Affairs (MCA) has been receiving several references/ representations from various stakeholders seeking clarifications on eligibility of CSR expenditure related to COVID-19 activities. In this regard, a set of Frequently Asked Questions (FAQs) along with clarifications are provided below for better understanding of the stakeholders. Fre quently Asked Questions (FAQs) Reply Whether …
The gross GST revenue collected in the month of March, 2020 is Rs. 97,597crore of which CGST is Rs. 19,183 crore, SGST is Rs. 25,601 crore, IGST is Rs. 44,508 crore (including Rs. 18,056 crore collected on imports) and Cess is Rs. 8,306 crore (including Rs. 841 crore collected on imports). The total number of GSTR-3B Returns filed for the month of February up to 31st March, 2020 is 76.5 lakh. The government has settled Rs. …
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 limits under the Taxation …
In pursuance of the Government of India’s efforts to provide relief to law abiding companies and Limited Liability Partnerships (LLPs) in the wake of COVID 19, the Ministry of Corporate Affairs (MCA), has introduced the “Companies Fresh Start Scheme, 2020” and revised the “LLP Settlement Scheme, 2020” which is already in vogue to provide a …
At a time when the entire world, including India, is traversing in the uncharted territory of the pandemic of Coronavirus COVID-19, and is virtually in a complete lockdown of 21 days effective 24th March, 2020 announced by the Government of India, the Income Tax Appellate Tribunal (ITAT), held an All India Video Conferencing of its Members …
Due to outbreak of the Covid-19 pandemic, there is severe disruption in the normal working of almost all sectors. To mitigate the hardships of taxpayers, the CBDT has issued the following directions/clarifications by exercise of its power u/s 119 of the Income-tax Act, 1961 (the Act): All the assessees who have filed application for lower …
The Union Finance & Corporate Affairs Minister Smt. Niramla Sitharaman today announced several important relief measures taken by the Government of India in view of COVID-19 outbreak, especially on statutory and regulatory compliance matters related to several sectors. While addressing the press conference through video conferencing here today, Smt. Sitharaman announced much-needed relief measures in …
Government e-Marketplace (GeM), a Special Purpose Vehicle under the Ministry of Commerce and Industry, has taken a number of initiatives in the fight against COVID-19 Pandemic. GeM, which operates a dynamic, self-sustaining and user friendly portal for procurement of goods and services by Government offices, has taken steps to enable quick, efficient, transparent and cost-effective purchases …
The 39th GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman here today. The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States & UTs and seniors officers of the Ministry of Finance. In the GST …