Package under Atmanirbhar Bharat Abhiyan announced on 13-May-2020
- Collateral free automatic loan – For MSME with turnover, 4 year tenure with 1 year moratorium and guaranteed – scheme upto 31st October 2020(Total Rs. 3 lakh crore for 45 lakh MSME)
- Subordinate debt for stressed MSME –
Total Rs. 20,000 crore for 2 lakh MSME and 4,000 crore under CGTMSE scheme
- MSME with viable business- Funds of funds with corpus of Rs. 10,000 crores equity for MSME and fund will help leverage 50,000 crores Daughter funds level, used to help msme with operations and listing in the markets
- Definition of MSME same for manufacturing and savings
(i) Micro – Investment limit upto Rs. 1 crores or turnover upto Rs. 5 crores
(ii) Small – Investment limit upto Rs. 10 Crores or turnover upto 50 crores
(iii) Medium – Investment limit upto Rs. 20 Crores or Turnover upto Rs. 100 Crores
- For government procurement, tender upto Rs. 200 crores global tenders, will be disallowed.
- E-market linkage for all MSME in substitutions of trade fairs.
Any receivables from Government of India or will be received in 45 days
- Extension of support for EPF contribution of employer and employees extended for months of June, July and August 2020 (Eligible for organisations upto 100 Employees and 90% employees earn upto Rs.15,000 pm)
- The statutory EPF contribution for people not eligible under pt 1. have to pay only 10%. ( However government employers in PSUs will continue to pay 12% but government employees can contribute 10% only)
For NBFCs, Housing Finance Companies and Micro finance Companies
- Rs. 30,000 crores special liquidity scheme for housing finance and microfinance, fully guaranteed by Government of India .
- Rs. 45,000 partial credit guarantee scheme 2.0 for NBFCs
DISCOMS (Electricity distribution companies)
Emergency liquidity injection upto Rs.90,000 crores to pay to Gencos (electricity generation companies). Scheme helps in giving rebate to ultimate consumers
6 month extension to contractors for contracts with central government agencies
Urban development ministry shall advisory to states and Union Territories, they could treat covid-19 period as force majeure or vis major in execution of contract signed.
Extension is for a period of 6 months
- Reduction of TDS and TCS rates to 25% of existing schemes upto 31st March (Rs.50,000 crore in people’s hands instead of government)
- All refunds to charitable trust and non- corporate business and professions such as proprietorship, partnership, LLP and co-operative societies will be issued immediately.
- Filing of returns of income tax due date extended from 31st July and 31st October to 30th November
- Tax Audit Report extended from 30th September 2020 to 31st October 2020
- Assessment for Assessment year 2018-19 extended from 30th September 2020 to 31st December 2020
- Vivad se Vishwas scheme extended upto 31st December 2020. No additional payment under the scheme
Assessment for Assessment year 2019-20 extended from 31st March 2021 to 30th September 2021.