CBDT issues Guidelines for TDS/ TCS by E-Commerce Operators and Sellers of Goods valued at more than INR 50 lakh

The Guidelines clarify that the TDS and TCS provisions will not apply to transactions involving securities and commodities that are traded through recognised stock exchanges (SEs) or cleared and settled through recognised clearing corporations (CCs), including those in the International Financial Service Centre (IFSC). They will also not apply to transactions in electricity or renewable energy and energy saving certificates that are traded through registered power exchanges. Moreover, to eliminate the duplication of tax liability, the Guidelines clarify that if the e-commerce operators deduct TDS on such a transaction, the payment gateway will not be required to deduct TDS on the same transaction. In order to ensure a smooth implementation of this, the e-commerce operator is required to make an undertaking to the payment gateway that it will deduct the TDS itself.

FSSAI extends the deadline for mandatory food safety audits of specified food businesses

By virtue of an order dated 13th August 2019, FSSAI mandated audits of six categories of food businesses that hold Central Licences. These businesses must also fall under high-risk categories to attract the mandatory audits. The previous deadline for completing these audits was fixed on 30th September 2020. However, on account of the COVID-19 pandemic, FSSAI has extended the last date for conducting the mandatory audits to 31st December 2020. Hence the specified food businesses are required to complete the mandatory audits of their premises by 31st December 2020.

FSSAI re-operationalises the FSS (Licensing and Registration of Food Business) Amendment Regulations, 2020

The Amendment Regulations state that the fees and other charges under the Regulations will be levied as prescribed by the FSSAI and their non-payment will result in suitable action against the FBO. Furthermore, a manufacturing and processing licence holder must implement and maintain a quality control plan of testing so as to comply with prescribed standards. The periodicity of such tests and the type of tests to be carried out in-house will also be specified by the FSSAI. Moreover, the FBO is required to obtain a hygiene rating for his food business as per the terms determined by the FSSAI. Additionally, FBOs must ensure training of Food Safety Supervisor under training programmes of FSSAI. These Food Safety Supervisors will supervise the food handlers and also ensure their training.

RBI extends the interim relaxation in WMA limits for 6 months.

RBI has extended interim relaxation in Ways and Means Advances (WMA) limits and OD regulations with a view to provide greater comfort to state governments in undertaking COVID-19 containment and mitigation measures, and to enable them to plan their market borrowings.