Announcement on relief for Statutory Compliance

Comprehensive Announcement on relief for Statutory Compliance Regulations by Hon’ble Finance Minister on 24/03/2020

1. FY 18-19 – return filing last date extended to 30.06.2020
2. Vivaad Se Vishwas Scheme extended to 30.06.2020 (without additional 10% of tax)
3. Interest rate at 9% for Late deposition of TDS till 30.06.2020
4. PAN Aadhar linking deadline now 30.06.2020
5. All notices / proceedings / filing dates till 31.03.2020 – gets extended to 30.06.2020
6. GST Returns March, 2020; April 2020; May, 2020 – all returns deadline is 30.06.2020
7. Companies with less than Rs. 5 Crores TO – no interest, penalty, late fees in GST. For companies above Rs. 5 Crores – only interest at 9% will be charged
8. Sabka Vikas scheme for Service Tax (Indirect Taxes) extended till 30.06.2020 – without any interest liability
   Custom
9. Customs – 24×7 Clearance till 30.06.2020
   Companies Act
10. MCA – moratorium from 01.04.20 to 30.09.20 – there shall be no additional fees for late filings.
11. Board meetings are relaxed for 60 days for next 2 quarters
12. Revised CARO to get applicable from FY 20-21 instead of FY 19-20
13. For newly incorporated companies – Commencement of business is to be filed within 6 months, which is now extended for another 6 months.