was successfully added to your cart.

The scale of the impact of COVID-19 on the Indian economy has been unprecedented. Understandably so, of late, there have been several regulatory changes. Here is a quick snapshot of what is relevant to your business.

Company Affirmation of Readiness towards COVID-19)

The MCA has introduced an online form where Companies & LLPs declare their readiness to meet the threats posed by COVID-19. The due date for filing is 30 March. There is no government fees payable to file the form. OTP verification shall be required.

Funds spent to tackle COVID to count for CSR

The Government of India has declared COVID a 'notified disaster'. Funds spent on preventive healthcare and sanitation and disaster management would be within the definition of a company’s CSR obligations. Funds spent to address the challenges posed by COVID would thus fall under CSR. Qualifiying companies have to spend 2% of their average profits (3 years) on CSR activities.

Due date for Unified Annual Return extended

The due date for filing Unified Annual Return (UAR) through the Shram Suvidha portal has been extended to 30 April. The UAR is a single return that combines compliances required under 8 Acts and 10 Central Rules.

GST due dates extended

The due date for filing returns have been extended as follows (a) Due date for GSTR-3B February extended to 7 Apr 2020, and (b) Due date for annual returns in GSTR-9 and GSTR-9C for 2018-19 extended to 30 Jun 2020

In case of any questions, please do not hesitate to reach out to us on pavan@bclindia.in or write to us on bclindia.in/contact/. We would be glad to be of your assistance.

Leave a Reply

avatar
  Subscribe  
Notify of