Govt examining industry demands; breather on tax compliance deadline likely

Proposals for a 3-month extension of compliance timeline being considered

The Union government is examining proposals seeking relief to businesses through extension of compliance timeline for goods and services tax as well as income tax. With India facing the biggest Covid-19 crisis so far, the government has received multiple industry representations, including from micro, small and medium enterprises, wanting a breather of up to three months.
 
“We have received many representations…. These are genuine concerns and will be addressed appropriately,” a government official told Business Standard.
 
Delhi announced a week-long curfew till April 26 while severe restrictions were imposed on movement of people in Mumbai and other Maharashtra