Amidst, the global pandemic caused by the COVID-19 outbreak, the Indian Parliament passed the Finance Bill, 2020 (‘Bill’) on March 23, 2020 without any discussions. Several amendments have been made to the Bill in relation to tax residency, taxation of dividend, tax collection at source, widening of scope of equalisation levy, etc.
On the indirect tax front, recently, the GST Council took decisions on certain crucial issues such as special procedure to be followed in case of IBC, apportionment of input tax credit in case of demerger, amendments relating to e-invoicing, etc.
Separately, while work on the economic package to deal with the virus outbreak is in progress, the Finance Minister today announced extensions and reliefs from certain statutory compliances.
TaxSutra in association with Dhruva Advisors hosted a webinar on Thursday i.e. March 26, 2020 to discuss these developments and its impact. The discussions was led as always by Mr. Dinesh Kanabar, CEO, Dhruva Advisors LLP and other experts from Dhruva.