MAY 2021, Issue No. II

GST

IGST on imports of specified COVID-19 relief material donated from abroad  exempted up to 30th June, 2021, subject to certain conditions.

Time limit for compliances falling between the period from 15.04.2021 to 30.05.2021 extended upto 31.05.2021, subject to certain exceptions.

INCOME TAX

CBDT notifies rules for LTC (Leave Travel Concession) Cash Voucher Scheme.

Cash payment made to Hospitals, Dispensaries, Nursing Homes, Covid Care Centres or similar other medical facilities providing Covid treatment to patients falls outside the scope of Section 269ST during 01.04.2021 to 31.05.2021, subject to obtaining PAN or Aadhaar of the concerned parties.

New rule 11UD prescribing threshold of Rs.2 crores for the purposes of significant economic presence under clause (a) of Explanation 2A to Section 9(1)(i) introduced.

CUSTOMS
Facility for trade by providing option to submit an undertaking in lieu of bond upto June 30, 2021 introduced to ensure that there are no delays or disruption in EXIM trade due to pandemic.
Anti-dumping duty on imports of “Seamless tubes, pipes and hollow profiles of iron, alloy or non-alloy steel (other than cast iron and stainless steel), whether hot finished or cold drawn or cold rolled of an external diameter not exceeding 355.6 mm or 14″ OD” from China extended upto 31.10.2021.
DGFT
The last date for import of 1.5 Lakh MT of Urad, is extended from 30th April, 2021 to 15th May, 2021.
COMPANY LAWS

No additional fees shall be levied upto 31st July, 2021 for the delayed filing of forms (other than charge related forms CHG – 1,4 and 9) due for filing from 1st April, 2021 to 31st May, 2021. For such delayed filings upto 31st July, 2021 only normal fees shall be payable.

The gap between two consecutive meetings of the Board may extend to 180 days during the Quarter – April to June 2021 and Quarter- July to September, 2021, instead of 120 days as required.