MINISTER OF STATE FOR TOURISM (INDEPENDENT CHARGE)
(SHRI PRAHLAD SINGH PATEL)
(a) & (b): The Government announced various fiscal and relief measures under the Atma Nirbhar Bharat Package which is expected to benefit the Tourism Industry. The stimulus package announced by the Government of India is outlined as under:
• The Government has further announced Atmanirbhar Bharat Package vide which Rs.3 lakh crore collateral free automatic loan has been made available for MSMEs. The loan will have 4-year tenure and will have 12-month moratorium.
• The Government waived off PF contribution for three months for organisations less than 100 pax and 90% employees earn below Rs.15000. Under Atmanirbhar Bharat package, PF contribution of both employer and employee has been reduced to 10% each from existing 12% each for all establishments covered by EPFO for the next three months i.e. up to September 2020.
• Deferment of TCS upto October 2020
• Return filing deferred for three months with no penal interest for companies upto Rs.5 Crore, rest @ 9% penal interest.
The Central government has also given relief from various regulatory compliances under Income Tax Act, companies Act and GST Act for varying period in the wake of COVID-19 crisis to ensure business continuity and survival. Further, RBI has extended moratorium on term loans till 31st December 2020.
(c): The state-wise details are at Annexure.
********
Download PDF Files