Equalisation Levy

Assessee was subjected to disallowance of Rs.8.89 cr for not charging EQ on the AdWords charges paid to Google Singapore

May delay implementation of global tax deal

US to withdraw threat of retaliatory trade action

There is little consensus among experts on whether or not the deal will bring in more revenues to India than the equalisation levy

India may have to withdraw digital services tax or the equalisation levy and give a commitment not to introduce such measures in the future if the global minimum tax deal comes through

The G24 now pressed for a gradual removal of unilateral measures, simultaneous to revenue gains from the implementation of Pillar 1

The government has taken a balanced stance by committing to the multilateral approach for addressing tax challenges of digitalisation

This is part of the Significant Economic Presence (SEP) principle, which was introduced in the Finance Bill 2018-19

The group has called for a retaliatory tariff action against India, if New Delhi does not roll back the 'unilateral and discriminatory' equalisation levy or Google Tax

India's information technology hub Bengaluru accou­nted for half of the overall equalisation levy mop up at Rs 1,020 crore

Experts say levy will cause compliance problems for taxpayers, having come so late. Companies will have to do a lot of adjustments in their own systems while trying to comply with this newly clarified

This follows investigation by the office of the US Trade Representative (USTR) last year under section 301 of the Trade Act, which concluded that India's equalisation levy, was "actionable"

India is not agree with the United States Trade Representative (USTR) report that the country's two per cent equalisation levy on foreign e-commerce firms discriminates against American companies

India on Thursday said that 2 per cent equalisation levy (EL) does not discriminate against any US company as it applies equally to all non-resident e-commerce operators

Highlighting the discrimination part, the report said that of the companies that are subjected to India's equalisation levy, 72 per cent are American companies

The request features in GJEPC's representation made to finance ministry for union budget 2021-22

Direct tax, net of refunds, contracted by 24 per cent as of October 8 to Rs 3.66 trillion compared with Rs 4.8 trillion in the corresponding period last year.

The industry is pushing for an equalisation levy of 1-2 per cent on solar equipment supplied to the domestic market from SEZ units, whereas the BCD could be in the range of 15-20 per cent

Finance Secretary Ajay Bhushan Pandey said FAQs are issued where you have to explain to somebody who is not familiar with tax laws and there you try to explain in simple words.