For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Amid Covid19 GST Simplified: E-way Bill Validity Extended, 10% ITC Deferred

|

In the wake of ongoing nationwide lockdown to curb the spread of Covid 19 infection, businesses facing hardship with respect to supplies and movement of goods have been provided a leeway by the government by way of extension in validity of e-way bills till April 30.

GST Simplified: E-way Bill Validity Extended, 10% ITC Deferred
 

"Where an e-way bill has been generated and its period of validity expires during the period 20th day of March, 2020 to 15th day of April, 2020, the validity period of such e-way bill shall be deemed to have been extended till the30th day of April, 2020", said the finance ministry in a notification on Friday.

Further the ministry has also postponed the application of 10% restriction for availing input tax credit (ITC) for February to August 2020 and at the same time rolled over overall applicability to September 2020. The measure is likely to ease cash flows of more than 12 million taxpayers.

Also, through the notification issued on Friday various other indirect taxation compliance relaxations announced by the government came into effect.

GoodReturns.in

Read more about: gst indirect tax
Story first published: Saturday, April 4, 2020, 10:36 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more