AKGVG Weekly Insight
Dear Reader,
Greetings for the day!!! We are pleased to share AKGVG's Weekly Insight, dated 16th April, 2020 which includes:
Date: 16.04.2020
S.no Description Relevant links
Section I: Income Tax
1. Employee to intimate employer of intention whether he/she want to opt for new tax regime u/s 115 BAC. Circular no._C1_of 2020
dtd 13.04.2020
2. CBDT issued clarification regarding short deduction of TDS/TCS due to increase in rates of surcharge. Circular no. _8/2020
dtd 13.04.2020
Section II: GST
1. CBIC issued circular providing clarification in respect of certain challenges faced by the registered persons in implementation of provisions of GST Laws. Circular No. 137/07/2020
dtd 13.04.2020-GST
Section III: MCA
1. MCA has issues clarification on passing of ordinary and special resolutions by companies under the Companies Act, 2013 and rules made thereunder on account of the threat posed by Covid-19. General Circular no. 17/2020
dtd 13.04.2020
2. MCA released COVID-19 related FAQs on Corporate Social Responsibility (CSR). General Circular no. 15/2020
dtd 10.04.2020
Section IV: RBI
1. RBI has issued amendment to Master Direction (MD) on KYC. RBI/2019-2020/207
dtd 01.04.2020
2. RBI permits greater space to State Governments/ Union Territories for availing overdraft facilities. Press release
dtd 07.04.2020
Section V: Customs
1. Department of Commerce has provided a number of relaxations / extensions of various compliance deadlines etc. to address corona pandemic related hardships of exporters. Press release
dtd 11.04.2020
2. CG exempted customs duty on ventilators, personal protection equipment, covid-19 testing kits and inputs for these goods. Notification no. 20/2020
dtd 09.04.2020
We trust you will find this Journal informative as well as useful.
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Disclaimer: The entire contents of this Journal have been prepared on the basis of relevant provisions and information existing at the time of preparation. The observations of the author are personal view and the author does not take any responsibility of the same and this cannot be quoted without the written consent of the author.

Best Regards!
Knowledge Updates Team
AKGVG & Associates
(Chartered Accountants)

Tel: +91 9811118031, 9818330516,
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Website: https://www.akgvg.com