Update by the Honorable FM Nirmala Sitharaman – 24th March 2020

  • Payment under ‘Sabka Vishwas’ scheme extended to 30th June 2020.
  • No interest, penalty for firms with less than Rs 5 Crores turnover.
  • Last date of filing GST returns extended to 30th June 2020.
  • Aadhar Card-Pan Card linking last date extended to 30th June 2020.
  • Last date to file I-T returns (FY – 2018-19) extended to 30th June 2020.
  • Extra 6 months given to newly incorporated firms to file declaration.
  • Mandatory requirement of holding board meetings relaxed for 60 days.
  • Debit cardholders can withdraw money, free of charge from any bank for next three months.
  • Govt might suspend Section 7, 9 and 10 of IBC.
  • Customs clearance will operate 24×7 till 30th June 2020.
  • Economic relief package to be announced soon, reiterated FM.

** Notifications / guidelines / press release to follow.