CA Pankit Shah

Food Safety Compliance System (FoSCoS) is an enhanced version of Food Licensing and Registration System (FLRS) which was launched in 2012 for issuance of pan-India FSSAI Licenses and Registration.      It had evolved incrementally and organically with changing regulatory needs. The technology on which it was built was outdated with technical support no longer available. Over years users complained of slow speed of FLRS and software experts resisted new changes on FLRS thus impeding any further improvement, expansion and innovation in the licensing system. Thus the migration from FLRS to FoSCoS was imperative. FoSCoS is built using latest technology with a vision to have modern on stop pan-India IT platform fo...

Artificial Fruit Ripening Ethylene used in different forms is approved by FSSAI to ripen the fruits, up to a limited concentration of 100 parts per million. The Food Safety and Standards Authority of India (FSSAI) has issued a directive to food safety commissioners in all States and UTs to undertake effective surveillance and enforcement activities for preventing the use of banned substances such as calcium carbide or acetylene gas for artificial ripening of fruits. They are also advised to do similar exercise for vegetables to check the level of pesticides. According to FSSAI, despite prohibition on sale of artificially ripened fruits using calcium carbide, the prevalence of such ripened fruits in the market is a serious cause of concern which needs to be tackled effectively. A focused and sustained awareness campaign at Mandi level may be conducted for the FBOs. The awareness campaign in this regard may also be conducted through media for proper education of the FBOs....

‘loose’ sweets will carry best-before date From June 1 .  Your neighbourhood  halwai  shop will soon have to declare the manufacturing and best before date of all loose sweets available in his shop. India’s food regulator, Food Safety and Standards Authority of India (FSSAI) has asked local mithai and sweet shop owners to display the manufacturing date and the “best before" date on loose sweets sold in their shops in a move that will help ensure that the consumers are purchasing a fresh product. Shops told to indicate manufacturing and expiry date of non-packaged sweets at display counters; currently rule applies only to packaged sweets . FSSAI—the food regulator—has asked all mithai shops to use such labelling on the trays that carry loose sweets. “Further, in public interest and to ensure food safety, it has been directed that in case of non-packaged/loose sweets the container or tray holding sweets at the outlet should display the “date of m...

Under the India income-tax law, if the seller qualifies as a non-resident in India during the relevant financial year, the buyer is required to deduct TDS at specified rate (plus applicable surcharge and health and education cess) on taxable capital gain on sale of immovable property. The specified rate is 20% (plus applicable surcharge and health and education cess) in case of long-term capital gains (LTCG) and 30% (plus applicable surcharge and health and education cess) in case of short-term capital gains (STCG).  Accordingly, you as a buyer is liable to deduct TDS and not the bank. Any immovable property held for a period of more than 24 months is classified as a long-term capital asset (LTCA). In case of an LTCA, taxable capital gain will be net sale proceeds less indexed cost of acquisition (i.e. adjusted as per the Cost Inflation Index or CII) less indexed cost of improvement. The seller is entitled to exemption in respect of LTCG tax under specified...