Zero rated supplies means export supplies and supplies made to SEZ units or SEZ developers. Further on zero rated supplies, input tax credit and refund is available even if supplies are exempt supplies.
As dividend distribution tax on payment of dividend income by companies is removed, the finance act 2020 has introduced section 194K for deduction of tax at source on income earned from units of mutual funds and unit trust of India.
In order to discourage cash transaction and a move towards less-cash economy, a new section 194N has been introduced for deduction of TDS on cash withdrawal from any account maintained with any bank or post office or co-operative society.
CBIC to facilitate trade during the lockdown period has allowed submission of undertaking instead of bond to a certain category of exporter and importer. This relaxation will be available up to 30.04.2020.