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Businesses can claim GST refund for cancellation of services, goods contract

The CBIC clarification comes at a time when sectors like aviation and hospitality are grappling with mass cancellation of bookings in view of the lockdown due to the pandemic. Rajat Mohan, Senior Partner at AMRG & Associates, said “this clarification would help worst-hit sectors of the business fraternity to claim a tax refund from the government, which would also have a ripple effect in the entire supply chain”.

World”s biggest lockdown may have cost Rs 7-8 lakh cr to Indian economy

All India Motor Transport Congress (AIMTC) secretary-general Naveen Gupta said the accumulated losses to truckers during the first 15 days of lockdown were about Rs 35,200 crore given an average Rs 2,200 loss to per truck per day.

“More than 90 per cent of the about one crore trucks in the country are off roads during the lockdown as truckers with only essential commodities are on the move,” he said. “Even if the lockdown is lifted, it will take at least 2 to 3 months for truckers to limp to some normal scale as we apprehend consumption of non-essential items to remain hit on the account of lack of purchasing power.”

COVID-19 death toll rises to 308, cases 9,152, Modi to address the nation at 10 am tom

Prime Minister Narendra Modi will finally be addressing the nation at 10 am on April 14, which is the last day of the 21-day lockdown.

The prime minister is also likely to announce plans to revive the Indian economy which has been badly hit by the lockdown.”Prime Minister @narendramodi will address the nation at 10 AM on 14th April 2020,” the PMO tweeted. Last month, the prime minister had addressed the nation twice — on March 19 and March 24.

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