In major succour for borrowers, the Supreme Court extended an interim loan moratorium and told banks not to declare such accounts as non-performing assets till further orders
The Central Board of Direct Taxes (CBDT) vide Notification dated June 24, 2020 and the Ministry of Finance, June 24, 2020 has provided a much needed clarity and has given a legislative sanction to the income tax reforms inter alia proposed by the Hon’ble Finance Minister in light of the pandemic COVID 19.
The Centre has released Rs 36,400 Crore as Good and Services Tax Compensation to the States & Union Territories for the period from December 2019 to 2020, in view of the prevent conditions due to the outbreak of COVID19 pandemic.