The IRS issued a Memorandum last month addressing when an employer may be considered to have experienced a full or partial suspension of operations during the COVID-19 pandemic in 2020.
The CEA said food inflation is likely to subside with the arrival of fresh stock and government measures. However, the impact of deficient rains in August is to be watched.
Global and regional uncertainties and domestic disruptions may keep inflationary pressures elevated in the coming months, the finance ministry said on Tuesday, even as it expected the latest spike in food inflation to be “transitory” on the back of steady farm sector performance, fresh arrivals in the market and the governments “pre-emptive measures” to boost essential supplies.
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