Equalisation Levy News Today

RBI’s auto debit rule could cause tax woes for fintech startups Mumbai: The Reserve Bank of India's (RBI) auto debit rule could bring tax complications for fintech companies that have set up platforms for banks to integrate with a common e-mandate platform to ensure compliance. Fintech companies run the risk of attracting a 2% equalisation

Equalisation levy on Facebook, Amazon, Google may go only in 2-3 years New Delhi: India will abolish the equalisation levy imposed on multinational technology companies such as Google, Facebook, Netflix and Amazon among others only after a new mechanism to allocate revenues of such entities among countries under a proposed global tax deal comes into

GJEPC extends a warm embrace to the Vote-on-Account Budget, envisioning it as the catalyst for cultivating a blossoming India in this auspicious era of Amrit Kal

Union Budget: The Gem & Jewellery Export Promotion Council (GJEPC) has suggested the introduction of a Safe Harbour Rule for the sale of rough diamonds in Special Notified Zones (SNZs), as well as the implementation of a Diamond Imprest License and a reduction in import duty on cut & polished diamonds. These measures would allow India to become a trading hub like Dubai and Belgium, enabling Indian diamond manufacturers to access trading hubs without traveling abroad.

Union Budget: The Gem & Jewellery Export Promotion Council (GJEPC) has suggested the introduction of a Safe Harbour Rule for the sale of rough diamonds in Special Notified Zones (SNZs), as well as the implementation of a Diamond Imprest License and a reduction in import duty on cut & polished diamonds. These measures would allow India to become a trading hub like Dubai and Belgium, enabling Indian diamond manufacturers to access trading hubs without traveling abroad.

Budget 2024: Indias indirect tax landscape is in need of significant changes to promote economic growth and a more business-friendly environment. The Goods and Services Tax (GST) is a key component of the tax reform journey, but its complexity often leads to confusion and compliance challenges. The inclusion of petroleum products and real estate under the GST would simplify the tax structure, promote transparency, and reduce the cascading effect of taxes.

The Delhi High Court has directed that AWS India withhold 8% of payments payable or paid to AWS USA and deposit the same with the income tax department.The division bench of Justice Vibhu Bakhru and...

The United Nations Development Programme (UNDP), through its Tax for SDGs Initiative, and the South Centre, Switzerland jointly organised a two-day capacity-building workshop on “Taxation of the Digitalised Economy” for nearly 100 officials from the Fiscal Policy Department (FPD), Inland Revenue Dep

Staying updated with any revisions in tax laws and regulations is essential for accurately adhering to them

Income Tax Dates: Having knowledge of the important dates pertaining to taxation is essential for taxpayers in order to prevent penalties.