Government of NCT of Delhi waives late fees for delayed filing of GSTR-1
The Notification states that if a registered person fails to furnish GSTR-1 by the due dates for the months of March, April and May 2020 and for the quarter ending on 31st March 2020, the late fee will be waived if he furnishes the return on or before 30th June 2020.
Government of NCT of Delhi waives late fees for delayed filing of GSTR-3B
The notification prescribes extended dates for filing of GSTR-3B and waiver of late fees in case of delay in furnishing the return. For this purpose, it categorises taxpayers into three categories based on their aggregate turnovers. For example, taxpayers having an aggregate turnover of more than Rs. 5 crore in the preceding financial year, will be entitled to a waiver of late fees for the period of February, March, and April, 2020. This is subject to the GSTR-3B being furnished on or before 24th June 2020.
The Central Government amends exemptions of duty credit scrip on exports under RoSCTL
The Central Government has extended the benefits available under customs duty exemption against Scrips issued by the Regional Authority under the Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) Scheme. Prior to this amendment, the benefit of the exemption under the specified condition was available only till 31st March, 2020. This has now been extended to 31st March 2021 or until the RoSCTL scheme is merged with the Remission of Duties and Taxes on Exported Products scheme.
SEBI directs mutual funds to assign risk label to every scheme.
The Risk Level of a scheme will be depicted by “Risk-o-meter” and it shall have six levels of risk for mutual fund schemes.
SEBI directs mutual fund to rename dividend plans.
SEBI has also directed to clearly communicate to the investor that, under dividend option of a Mutual Fund Scheme, certain portion of his capital (Equalization Reserve) can be distributed as dividend.
SEBI comes out with a standardized timeline for listing securities on private placement.
SEBI has been receiving requests from various market participants for clarification on the time period within which securities issued on private placement basis under SEBI ILDS, SEBI NCPRS, SEBI SDI and SEBI ILDM Regulations need to be listed after completion of allotment.
