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of <h1>New Tax Guidelines for E-commerce and Sellers: Sections 194-O and 206C Explained for Compliance Starting October 2020.</h1> The circular issued by the Central Board of Direct Taxes provides guidelines for implementing sections 194-O and 206C of the Income-tax Act, 1961, effective from October 1, 2020. Section 194-O mandates a 1% tax deduction by e-commerce operators on sales or services facilitated through their platforms, with certain exemptions. Section 206C requires sellers to collect a 0.1% tax on sales exceeding fifty lakh rupees. The circular addresses implementation challenges, clarifying exemptions for specific transactions, such as those through recognized exchanges, payment gateways, and insurance agents. It also details the calculation of thresholds, applicability to motor vehicle sales, and exclusions for fuel supplied to non-resident airlines.
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