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Bloomberg
India’s government eased some rules relating to indirect-tax compliance to ease the burden of citizens during the pandemic period.
Reduced penalty and waiver of late fees on delayed goods and services tax payments were among the measures announced by the Finance Ministry on Sunday. Taxpayers were also allowed more time to file GST returns.
For persons with turnover above 50 million rupees, interest rate would be charged at 9% for the first fifteen days for delayed tax payments and 18% after that.
For persons with turnover up to 50 million rupees, no interest rate would be charged for the first fifteen days for delayed tax payments, 9% for the next 15 days and 18% thereafter.
Meanwhile, daily deaths in India from Covid-19 rise to a new record of 3,689, while the number of cases slipped slightly a day after India became the first country to cross the 400,000-case mark.
That offered little respite for the nation’s health care system, which is stretched to its limit and is struggling with shortages of oxygen and medical goods.