Finance Ministry issues Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020

 Circular No.ES/121/2020-21                                                          8th May, 2020 

 

 To: Members of the Council 

 

 Sub.: Finance Ministry issues Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020 

 

Dear Member, 

In order to give effect to the announcements made by the Union Finance Minister vide Press Release dated 24th March, .2020, regarding several relief measures relating to statutory and regulatory compliance matters across sectors due toCOVID-19 outbreak, now we would like to inform you that the government has brought in an Ordinance on 31st March, 2020 (Press Release dated 31st March, 2020) providing extension of various time limits under the Taxation and Benami Acts. It also provides for extension of time limits contained in the Rules or Notification which are prescribed/ issued under these Acts.

(Relevant extract of the Press Release is given)

Some of the important features and time limits which get extended by this Ordinance are as under:-

Direct Taxes & Benami:

 

  • Extension of Aadhaar-PAN linking date to 30th June, 2020.
  • The date for commencement of operation for the SEZ units for claiming deduction under deduction 10AA of the IT Act has also extended to 30th June, 2020 for the units which received necessary approval by 31.03.2020.
  • The date for passing of order or issuance of notice by the authorities under various direct taxes & Benami Law has also been extended to 30th June, 2020.
  • Under Vivad se Vishwas Scheme, the date has also been extended up to 30th June, 2020. 

Indirect Taxes:

 

  • Last date of furnishing of the Central Excise returns due in March, April and May 2020 has been extended to 30th June,2020.
  • Last date for filing of appeal, refund applications etc., under the Central Excise Act, 1944 and rules made from 20th March 2020 to 29th June 2020 has been extended to 30th June 2020.
  • Last date for filing of appeal, refund applications etc., under the Customs Act, 1962 and rules made from 20th March 2020 to 29th June 2020, has been extended to 30th June 2020.
  • Last date for filing of appeal etc., relating to Service Tax from 20th March 2020 to 29th June 2020  has been extended to 30th June 2020.
  • The date for making payment to avail of the benefit under Sabka Vishwas Legal Dispute Resolution Scheme 2019 has been extended to 30th June 2020 thus giving more time to taxpayers to get their disputes resolved.

In addition to the extension of time limits under the Taxation and Benami Acts as above, an enabling section has got inserted in the CGST Act, 2017 empowering the Government to extend due dates for various compliances inter-alia including statement of outward supplies, filing refund claims, filing appeals, etc. specified, prescribed or notified under the Act, on recommendations of the GST Council.

Members may kindly make a note of the above.

  

Thanking you, 

 

Yours faithfully, 

   

S. BALARAJU 

EXECUTIVE DIRECTOR 

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