The name of the fund i.e. PM cares stands for “Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund’. The fund is being set up to fight the crisis that has occurred as a result of the current pandemic – COVID19. The prime minister will be the chairman of this trust that aims to utilise the donations in various other disastrous situations in future.

Why we recommend donating in PM CARES Fund:

There can be many reasons to donate in this fund but the most important ones are here.

• The fund has sole is envisaged especially to carry out COVID-19 relief practices.
• You will have this chance of availing 100% Tax benefit u/s 80G without 10% restriction. So when you will be donating a respective amount in the fund that amount will get reduced from your taxable income when the tax will be calculated thereafter.
• You can make donations till 30-06-2020 and can claim benefits under section 80G for the financial year 2019-2020.
• Companies that are willing to donate now in this fund can get extra benefits also. As the donations will also be applicable for CSR purposes under the Companies Act.
• This will help the government in providing the best services to all the doctors who are facing the threat from very close enough.
• The minimum donation in the fund is Rs. 10. This minimum limit gives an opportunity to every citizen irrespective of their economic status to donate towards a good cause.

How to donate in PM CARES Fund:

1. Donate through cheque or demand draft by in the nearest branch of your bank.
2. Donate through debit cards, net banking and UPI by following the link provided on PM India portal (Govt of India portal).
3. You can also donate through applications like PAYTM, BHIM etc.
4. For making offline payments you can contact the nearest branch of your bank.

To know more about this fund you can check out the following websites also.

About PM Cares Fund – https://www.pmindia.gov.in/en/about-pm-cares-fund/

Press release on PIB website: https://pib.gov.in/PressReleseDetail.aspx?PRID=1609734

Let’s come forward to strengthen our nation in these difficult times because together we will win this fight with COVID19. Moreover, take care of yourself and your loved ones at home.

The post PM Cares Fund to fight COVID-19 Crisis – All you need to know first appeared on ITC Reconciliation, GSTR 2A Reconciliation - Digitax Automation.

1. Those having an aggregate annual turnover of less than Rs. 5 crores can file GSTR-3B due in March, April and May 2020 by the last week of June 2020. There will be no interest, late fee, and penalty charged.

2. Those having an aggregate annual turnover of Rs. 5 crores or more can file GSTR-3B due in March, April and May 2020 by the last week of June 2020 but the same would attract a reduced rate of interest @9 % per annum from 15 days after the due date (current interest rate is 18 % per annum). There will be no late fee and penalty charged, if complied before till 30 June 2020.

3. The date for opting for composition scheme has been extended till the last week of June 2020.

4. The last date for making payments for the quarter ending 31st March 2020 and filing of return for the FY 2019-20 by the composition dealers has been extended till the last week of June 2020.

5. The date for filing GST annual returns of FY 2018-19, which is due on 31st March 2020 has been extended till the last week of June 2020.

6. The due date for issue of notice, notification, approval order, sanction order, filing of an appeal, furnishing of return, statements, applications, reports, any other documents, the time limit for any compliance under the GST laws where the time limit is expiring between 20th March 2020 to 29th June 2020 have been extended to 30th June 2020.

7. Necessary legal circulars and legislative amendments to give effect to the aforesaid GST relief would be followed with the approval of GST Council.

8. Payment date under ‘Sabka Vishwas Scheme’ has been extended up to 30th June 2020. No interest for this period would be charged if paid by 30th June 2020.

9. 24X7 Custom clearance will be allowed until the end of 30th June 2020.

10. The due date for issue of notice, notification, approval order, sanction order, filing of an appeal, furnishing applications, reports, any other documents etc., the time limit for any compliance under the Customs Act and other allied Laws where the time limit is expiring between 20th March 2020 to 29th June 2020 have been extended to 30th June 2020.

We hope the information provided turn out to be helpful for you. Use E-filing software to file GST to stay inside and safe. Use GRECS for smooth and easy GST filing. For more such articles on GST, stay tuned with Digitax Automation.

The post Measures and Reliefs announced by Finance Minister amid COVID-19 Outbreak first appeared on ITC Reconciliation, GSTR 2A Reconciliation - Digitax Automation.