BSC Insights – Tax Reforms announced by Hon’ble Finance Minister, Mrs. Nirmala Sitharaman announced on 24th March 2020

Simmering of compliance burden – The rapid splurge of COVID-19 has made it difficult for the businesses to run their operations. After the announcement of historic lockdown of 21 days announced by the Hon’ble Prime Minister, the business operations came to entire standstill. Looking at this panicking situation accross the country, the Hon’ble Finance Minister announced various compliance relaxation provisions under various legislations like Income-tax, GST, Customs and Excise, Company Law and IBC.”

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