Imports of specified COVID-19 relief content will be excluded from IGST
The Central Government exempts goods of the description mentioned in the notifications faced with challenging circumstances prevailing due to the COVID-19 pandemic. The exemption order is subject to the terms and conditions set out in section 5 of the 2017 Integrated Goods and Services Tax Act (13 of 2017). The Indian government introduced the bill to increase revenue from the export of goods.
This exemption order will be in effect until the 30th of June, 2021, which will also extend to products that are facing clearance at the time of the order’s issuance.
RELAXATION ON ADDITIONAL FEES CHARGED ON FILING FORMS
Stakeholders have requested that the charge of extra fees for filing different forms under the Companies Act, 2013 and LLP Act, 2008 rules needs to be relaxed. The rules promulgated under it are scheduled for filing on April 1, 2021, and May 31, 2021. Stakeholders have requested that the charging of extra fees for filing different forms under the Companies Act be relaxed. Following an analysis of the demands and consideration of the problems that have emerged as a result of the return of the COVID-19 pandemic.
It has been decided for late filing of such forms (other than a CHG-1 Form, CHG-4 Form, and CHG-9 Form), no additional fees can be paid until July 31, 2021. For such late filings, only normal fines may be assessed. Both forms filed between April 1, 2021, and May 31, 2021, are affected.