COVID-19

Impact of covid in M&A and Private Equity space in India

Corporate Law - M&A in India is not left untouched by the pandemic largely on basis of liquidity issues, valuation concerns, regulatory changes, and other practical aspects including to restrictions and lockdown....

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Should Covid-19 vaccine be taxed? Here’s what may advocate for its tax applicability & exemptions

Corporate Law - Vaccines are life-saving drugs, just like medicines, classified as goods under GST. The supply of vaccines for business purposes with consideration is taxable under Section 7 of the CGST Act. However, the manufacturer will not be eligible to claim the input tax credit on the raw materials or services used in the supply of vaccines obtai...

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Update on relaxations in Direct tax, GST & Customs due to Covid-19

Corporate Law - Taking cognizance of hardship faced by taxpayers in view of the COVID-19 pandemic, Central Board of Direct Taxes (‘CBDT’) has provided certain relaxations to taxpayers by extending the following due-dates: ♦ Due-date for filing appeal before Commissioner (Appeals) [‘CIT(A)’] or objections before Dispute Resolution Panel (‘DRP...

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Open Letter to President ICAI to support members against Covid Crisis

Corporate Law - There is definitely anxiety with the members for the uncertainty about how the profession will look like in the next five years. There is a significant responsibility on your shoulders for managing the morale of the members and students to reduce anxiety among them by taking decisive decisions which can motivate the members....

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GST, Income Tax, DGFT, FEMA, Customs Updates dated 16.05.2021

Corporate Law - The country is dealing with a very challenging situation due to second wave of COVID-19 Pandemic which is more devastating in many ways than the one before. We need to be self-disciplined and follow all the Covid safety protocols. The government is also contributing their best to facilitate the trade and industry through facilitation meas...

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CoWIN website Reflects Change in Dose Interval of Covishield Vaccine

Corporate Law - CoWIN digital Portal Reconfigured to Reflect Change in Dose Interval of Covishield Vaccine to 12-16 weeks Already Booked Online appointments for 2nd Covishield Dose will remain Valid; NOT being cancelled by COWIN...

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ICSI pledges support to CS Members & Students during Covid-19 pandemic

Corporate Law - As the country is bracing its way out from this massive health crisis, the Institute of Company Secretaries of India stands in solidarity with its stakeholders and is extending all possible support through these trying times. In accordance, the Institute has taken some important decisions for both its members and its students....

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Black fungus – Evidence Based Advisory in the Time of Covid-19

Corporate Law - [Screening, Diagnosis & Management of Mucormycosis (black fungus)] Mucormycosis – if uncared for – may turn fatal Mucormycosis is a fungal infection that mainly affects people who are on medication for other health problems that reduces their ability to fight environmental pathogens. Sinuses or lungs of such individuals ge...

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COVID-19- FAQs for Patients with Hypertension, Diabetes & Heart Diseases

Corporate Law - Are patients with heart disease, diabetes or hypertension at increased risk to get coronavirus infection? No, people with hypertension, diabetes or heart diseases are at no greater risk of getting the infection than anyone else....

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Black-marketing of covid medicines/equipment – Strict action needed

Corporate Law - Confederation of all India Traders has written a letter to Shri Amit Shah, Hon’ble Minister for Home Affairs and requested Request to take strict action against alleged black-marketing of covid related medicines and equipment. Full text of the letter is as follows:- “Vyapar Bhawan” 925/1, Naieala, karol Bagh, New Delhi-110005. P...

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Delhi HC issues notice to Govt on plea seeking Tax Compliance due date Extensions

Society For Tax Analysis and Research Vs Union of India (Delhi High Court) - Society For Tax Analysis and Research filed a writ with Delhi High court seeking various reliefs in terms of extensions for filing compliances under various Acts, including the Income Tax Act, 1961, the Goods and Services Tax Act, 2017, the Employees Provident Fund & Miscellaneous Provisions Act, 19...

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Extraordinary times require extraordinary remedy & desperate times require remedial remedy: HC

Prateek Jain Vs State of U.P. (Allahabad High Court) - The Apex Court in the case of Suo Motu Writ Petition (C) No. 1/2020 In Re: Contagion of Covid 19 Virus in Prisons has considered the measures for de-congestion of the jails on account of threat of spread of infection of novel corona virus and by the order dated 07.05.2021....

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Prepare buffer stock of oxygen for emergency purposes, formulate national policy: SC

In Re Distribution of Essential Supplies And Services During Pandemic (Supreme Court of India) - In Re Distribution of Essential Supplies And Services During Pandemic (Supreme Court of India) In light of the continuing surge of infections in the second wave of the pandemic, we direct the Central Government and State Governments to put on record the efforts taken to curb the spread of the virus...

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Delhi HC on Import of Oxygen Concentrators by Individuals & Payment of IGST

Gurcharan Singh Vs Ministry of Finance (Delhi High Court) - Gurcharan Singh Vs Ministry of Finance (Delhi High Court) 1. It is pleaded to extend the exemption, to even individuals, to enable them to obtain imported oxygen concentrators by way of a gift, albeit, without having to pay IGST. 2. That tax is an exaction by the State is well known. That its levy a...

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SC takes over oxygen supply function from PMO; Set up National Task Force

Union of India Vs Rakesh Malhotra & Anr. (Supreme Court) - Union of India Vs Rakesh Malhotra & Anr. (Supreme Court) The rationale for constituting a Task Force at a national level is to facilitate a public health response to the pandemic based on scientific and specialised domain We expect that the leading experts in the country shall associate with the...

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Relaxation from compliance to REITs & InvITs due to CoVID -19 virus pandemic

Circulars No. SEBI/HO/DDHS/DDHS_Div3/P/CIR/2021/563 - (14/05/2021) - SEBI is in receipt of representations from InvITs and REITs requesting extension of timelines for various regulatory filings and compliances for InvITs and REITs for the period ending March 31, 2021, inter-alia, due to ongoing second wave of the CoVID-19 pandemic and restrictions imposed by various ...

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Maharashtra extends Lockdown till 01st June 2021

Notification No: DMU/2020/CR. 92/DisM-1 - (12/05/2021) - Maharashtra extends all the restrictions that have been imposed vide `Break the Chain' orders dated 13th April, 21st April and 29th April,2021 along with all additions and clarifications issued thereof as well as imposes following additional restrictions in the State till 7 AM on 1st June, 2021....

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Relaxations to SEZs for pending compliances till 30.06.2021

(01/01/1970) - Ministry of Commerce and Industries  notifies relaxations in Pending compliances, expiry of validity of LoAs, approvals or permissions till 30.06.2021. In view of the prevailing situation of the COVID-19 pandemic and partial lock-down imposed by the State Governments, most government offices are ei...

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Delhi Govt fixes Maximum rates for Private Patient Transport Ambulance

Notification No. F.I/855/CATS/2021/1356-1364 - (06/05/2021) - It has come to notice that some Private Ambulance Drivers/ Service providers are charging exorbitant rate(s) in Delhi during the COVID 19 Pandemic for transporting patients which is a matter of serious concern....

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RBI Resolution Framework 2.0 | Resolution of stress of MSMEs

Circular No. RBI/2021-22/32 DOR.STR.REC.12/21.04.048/2021-22 - (05/05/2021) - In view of the uncertainties created by the resurgence of the Covid-19 pandemic in India in the recent weeks, RBI  decided to extend the facility for restructuring existing loans to MSMEs without a downgrade in the asset classification subject to the some conditions. RESERVE BANK OF INDIA www.rbi.o...

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Recent Posts in "COVID-19"

CoWIN website Reflects Change in Dose Interval of Covishield Vaccine

CoWIN digital Portal Reconfigured to Reflect Change in Dose Interval of Covishield Vaccine to 12-16 weeks Already Booked Online appointments for 2nd Covishield Dose will remain Valid; NOT being cancelled by COWIN...

Read More
Posted Under: Finance |

ICSI pledges support to CS Members & Students during Covid-19 pandemic

As the country is bracing its way out from this massive health crisis, the Institute of Company Secretaries of India stands in solidarity with its stakeholders and is extending all possible support through these trying times. In accordance, the Institute has taken some important decisions for both its members and its students....

Read More
Posted Under: Finance |

Impact of covid in M&A and Private Equity space in India

M&A in India is not left untouched by the pandemic largely on basis of liquidity issues, valuation concerns, regulatory changes, and other practical aspects including to restrictions and lockdown....

Read More
Posted Under: Finance |

Should Covid-19 vaccine be taxed? Here’s what may advocate for its tax applicability & exemptions

Vaccines are life-saving drugs, just like medicines, classified as goods under GST. The supply of vaccines for business purposes with consideration is taxable under Section 7 of the CGST Act. However, the manufacturer will not be eligible to claim the input tax credit on the raw materials or services used in the supply of vaccines obtai...

Read More
Posted Under: Finance |

Black fungus – Evidence Based Advisory in the Time of Covid-19

[Screening, Diagnosis & Management of Mucormycosis (black fungus)] Mucormycosis – if uncared for – may turn fatal Mucormycosis is a fungal infection that mainly affects people who are on medication for other health problems that reduces their ability to fight environmental pathogens. Sinuses or lungs of such individuals ge...

Read More
Posted Under: Finance |

COVID-19- FAQs for Patients with Hypertension, Diabetes & Heart Diseases

Are patients with heart disease, diabetes or hypertension at increased risk to get coronavirus infection? No, people with hypertension, diabetes or heart diseases are at no greater risk of getting the infection than anyone else....

Read More
Posted Under: Finance |

Update on relaxations in Direct tax, GST & Customs due to Covid-19

Taking cognizance of hardship faced by taxpayers in view of the COVID-19 pandemic, Central Board of Direct Taxes (‘CBDT’) has provided certain relaxations to taxpayers by extending the following due-dates: ♦ Due-date for filing appeal before Commissioner (Appeals) [‘CIT(A)’] or objections before Dispute Resolution Panel (‘DRP...

Read More
Posted Under: Finance |

Black-marketing of covid medicines/equipment – Strict action needed

Confederation of all India Traders has written a letter to Shri Amit Shah, Hon’ble Minister for Home Affairs and requested Request to take strict action against alleged black-marketing of covid related medicines and equipment. Full text of the letter is as follows:- “Vyapar Bhawan” 925/1, Naieala, karol Bagh, New Delhi-110005. P...

Read More
Posted Under: Finance |

Violation by e-commerce by delivering non-essential goods

Strict Action against E-Commerce Entities for Violation of Restrictions on Account of GOYIM 19 Pandemic by Sale of Non-Essential Goods, against government orders....

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Posted Under: Finance |

Open Letter to President ICAI to support members against Covid Crisis

There is definitely anxiety with the members for the uncertainty about how the profession will look like in the next five years. There is a significant responsibility on your shoulders for managing the morale of the members and students to reduce anxiety among them by taking decisive decisions which can motivate the members....

Read More
Posted Under: Finance |

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