In order to implement the announcements made by Hon’ble Finance Minister vide Press Release dated March 24, 2020 regarding several relief measures in relation to compliances (both statutory or regulatory) across various sectors in view of the outbreak of COVID-19 across the country, the Government of India has brought in an ordinance called Taxation & Other (Relaxation of Certain Provisions) Ordinance, 2020 (hereinafter referred to as ‘Ordinance’) dated March 31, 2020 which provides for the extension of various time limits under taxation and Benami laws along with the extension of time limits as contained in various notifications which are issued under these laws.
Important provisions contained under the Ordinance are summarized hereunder for quick references:
Certain measures and reliefs have also been given by the Government through amendments in Foreign Trade Policy and Handbook of Procedure, 2015-2020. A summary of a few of the important reliefs has been given hereunder for quick references.
Information contained herein is only for reference purposes and is based on the information publicly available as on the date of this publication. The author takes no responsibility for its reliability and accuracy. It is advised to take appropriate legal/professional advice before undertaking any business activity or otherwise based on the above.