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NEW DELHI (Reuters) - India on Wednesday defended a new digital tax which faces opposition from big U.S. tech firms such as Alphabet’s Google and Facebook and the United States Trade Representative (USTR).
In its annual budget on Monday, India said a 2% equalization duty on foreign e-commerce companies imposed last year would apply even to companies that do not own the goods or provide the services on their platforms and if any part of the transaction is online, even if it this is only an online payment. “Basically if there is an economic benefit from a certain jurisdiction then there has to be some taxation in that jurisdiction,” Indian Trade Secretary Anup Wadhawan said during a news briefing in New Delhi.
India fast achieving pre-Covid-19 levels in exports, says Commerce Secretary
A file photo of JNPT Port. Photo: Ashesh Shah/Mint
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. Updated: 03 Feb 2021, 04:46 PM IST PTI
For the second consecutive month, the country s exports recorded a positive growth and rose 5.37% year-on-year to $27.24 billion in January 2021, mainly driven by healthy growth in pharmaceuticals and engineering sectors
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NEW DELHI :
The country s exports recorded a positive growth in January and the outbound shipments are fast moving towards pre-Covid-19 levels, a top government official said on Wednesday.
Commerce Secretary Anup Wadhawan also said India is well on the way to breaking into new frontiers and exporting goods such as mobile phones and other electronic goods.
Anup Wadhawan. File
Last month, an USTR investigation has concluded that India s 2% digital services tax on e-commerce supply discriminates against U.S. companies and is inconsistent with international tax principles. India does not agree with the United States Trade Representative (USTR) report that the country s 2% equalisation levy on foreign e-commerce firms discriminates against American companies, Commerce Secretary Anup Wadhawan said on Wednesday.
Last month, an USTR investigation has concluded that India s 2% digital services tax on e-commerce supply discriminates against U.S. companies and is inconsistent with international tax principles. We do not agree with that conclusion, Mr. Wadhawan told reporters when asked whether India has responded to the USTR report.
Budget will enhance growth in manufacturing, trade: Commerce Secy
By IANS| Published: 3rd February 2021 3:35 pm IST
New Delhi, Feb. Feb 3 : The Budget for 2021-22 extensively and comprehensively envisages several initiatives and areas of focus, aimed at enhancing India’s overall competitiveness and manufacturing capacities, which would enable growth, diversification and technological enhancement of India’s exports, Commerce Secretary Anup Wadhawan said on Wednesday.
These cover both ease of doing business in the area of approvals and procedures, and the physical environment for investment, targeting a plug and play eco-system for investors, he said.
Briefing the media on the Budget 2021-22 initiatives, the commerce secretary said that one primary area of focus is the creation of a robust infrastructure, logistics and utilities environment for the manufacturing sector.