It has been decided to temporarily defer the submission of hard copy of documents, as required under Para 4 of Public Notice No. 82/2018 dated 16.05.2018. The hard copy of the said documents will be submitted by the concerned shipping line within 05 days of removal of the lockdown.
In order to provide greater flexibility to the State Governments to tide over their cashflow mismatches, RBI, on a review, has decided to a. increase the number of days for which a State/ UT can be in overdraft continuously to 21 working days from the current stipulation of 14 working days.
In respect of term loans, insurers are permitted to grant a moratorium of three months towards payment of instalments falling due between 1st March, 2020 and 31st May, 2020. The repayment schedule for such loans and also the residual tenor, will be shifted across the board by three months subsequent to the moratorium period.
This circular is applicable to the four banks emerging from the mega merger exercise effected from 1st April, 2020; i.e. Punjab National Bank, Canara Bank, Union Bank of India and Indian Bank and concerned insurers. In this circular, the four banks are referred as ‘Acquiring Bank’ and the banks that were merged with the acquiring bank are referred as ‘Acquired Bank’.
CBIC notifies vide Notification No. 1/2020 – Union Territory Tax Dated 8th April, 2020 provisions to provide relief by conditional lowering of interest rate for tax periods of February, 2020 to April, 2020. Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 1/2020 – Union Territory Tax […]
CBIC notifies provisions to provide relief by conditional lowering of interest rate for tax periods of February, 2020 to April, 2020 vide Notification No. 3/2020 – Integrated Tax Dated 8th April, 2020. Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 3/2020 – Integrated Tax New […]
In the context of the COVID-19 situation and with a view to provide immediate relief to the business entities and individuals, it has been decided to issue all the pending income-tax refunds up to Rs. 5 lakh, immediately. This would benefit around 14 lakh taxpayers.
State/Union Territory Governments are advised to take urgent steps to ensure availability of these essential goods, by invoking provisions of the Essential Commodities (EC) Act 1955. These measures include fixing of stock limits, capping of prices, enhancing production, inspection of accounts of dealers and other such actions.
In the light of unprecedented situation caused by COVID-19 pandemic and due to lockdown resulting in temporary inability for receipt of physical copy of Country of Origin Certificate (COOC), the Trade / Importers have approached for clearance of goods against the photocopy of COOC which they have received electronically from the exporter / supplier overseas.
On account of lockdown due to COVID-19, the physical submission of documents and undertaking is not possible. Therefore, the following procedures for In-bonding of the goods imported under warehouse Bills of Entry is laid down:
