COVID-19: Highlights of changes announced by FM

Rohit Kumar Singh | Last updated: 25 March 2020

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In response to the economic impact of COVID-19, the Finance Minister has announced several significant relief measures for businesses. These include extensions for various tax deadlines, such as income tax returns and GST filings, pushing them to June 30, 2020. Additionally, interest, late fees, and penalties have been waived or reduced for certain tax payments and schemes like Vivad se Vishwas. The government has also relaxed timelines for legal compliances and introduced measures for the financial sector, such as free ATM withdrawals and waived minimum balance charges.

The CoronaVirus (Covid-19) outbreak has not only impacted lives of general citizens, it has also severely impacted the trade and business community. The lockouts and curfew across various cities has resulted in massive downfall in numbers and business across the country. The business community was

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About the Author

Rohit Kumar Singh

Founder - TaxMarvel Consulting Services LLP

Rohit is a CA, CS and CMA and Gold Medalist Law Graduate. He has also passed DISA (ICAI). Rohit is Founder of TaxMarvel Consulting Services LLP (a niche consulting firm engaged in providing GST Services to Corporates and SMEs) He was earlier head ofGST Business (GST Suvidha Provider) for Karvy Data Management Servic ... Read more

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