"09 April 2020" Archive - Page 4

Practical Issues on New Facility extended in GST Laws to Corporate Debtors 

Notification No. 11/2020- Central tax dated 21st March 2020 has been issued prescribing the procedure of registration, filing of return, availing of input tax credit and further clarification has also been issued vide circular no. 134/04/2020-GST dated 23rd March 2020 on the same for registered taxpayers covered under Insolvency and Bankr...

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New concessional Income tax rate from FY 2020-21

Concessional rate of Tax applicability for individual business owners, Individuals, HUF and professionals as per the new amendment of Finance bill 2020 for Financial year 2020-21 Please read the entire article to get a hold of the optional tax benefit given to Individuals & HUF New tax structure is as follows: Annual Income  New Inco...

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MCA allowed video conferencing for Board meetings

MCA has relaxed the provisions for physical attendance and allowed video conferencing for meetings among Covid 19 pandemic situation vide General Circular No. 14/2020 Dated- 08/04/2020 Govt’s proactive steps In the Unprecedented times of Covid 19, the Indian government is taking proactive steps. The Govt is duly empathising with the con...

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Approval of additional place U/s. 8 (a) of Customs Act, 1962

Public Notice No. 49/2020-JNCH 09/04/2020

COVID-19 facilitation measure- Approval of additional place under Section 8 (a) of Customs Act,1962 for unloading/loading of import and export goods....

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CBDT allows donations to PM cares fund through form 16

F. No. 178/7/2020-ITA-1 09/04/2020

Submission of certificate for claiming deductions U/s. 80G of the Income-tax Act, 1961 in respect of donation made by an employee to Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES FUND)...

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Govt Exempts Duty & Cess on Covid 19 Test Kits, Masks, PPE, Ventillators

Notification No. 20/2020– Customs [G.S.R. 247(E).] 09/04/2020

Government Grants exemption from Basic Custom duty & Health Cess on import of Ventilators , PPE, COVID Test Kits & Face & Surgical Masks In the context of Covid-19 situation, considering the immediate requirement of ventilators and other items,the Central Government has granted exemption from Basic Customs Duty and Health cess...

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Notification No. 8/2020-Customs amended to make changes consequential to enactment of FA 2020

Notification No. 19/2020–Customs [G.S.R. 246(E)] 09/04/2020

Seeks to amend notification No. 8/2020-Customs dated 02.02.2020 to make changes consequential to enactment of Finance Act, 2020. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 19/2020–Customs New Delhi, the 9th April, 2020 G.S.R. 246(E).—In exercise of the powers conferred by sub-section (1) of section 25 of the Customs ...

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Increased threshold limit under IBC to 1 crore: Its objective, impact & overview

Considering the coronavirus outbreak condition Central Government on 24th March, 2020 via Ministry of Corporate Affair notification S.O. 1205 (E) in exercising its power conferred under proviso to Section 4 of Insolvency Bankruptcy Code, 2016 (31 of 2016) enhanced the minimum default threshold  from INR One Lakh to INR One Crore....

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Success Rate of Candle Stick: Forex Trading Perspective

The foreign exchange market, which from this point on will be referred as forex, is a market that trades currencies from different countries. In this market two currencies are traded against each other according to what the market believes to be the relative strength between these two....

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Pandemic Legal Intelligence for Managers Employer’s Perspective

Wages & Salary 1. Whether employers can reduce the salaries or bonus of the employees for the lockdown period of COVID-19 due to effect on the turnover of the organization? Answer: The Ministry of Home Affairs vide Order no. 40-3/2020 DM-I(A) dated 29.03.2020 has directed all the employers, be it in the industry or in […]...

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