equalisation levy: CBDT may take a look again at equalisation levy
Synopsis In cases where a local buyer and seller transact over a foreign e-commerce platform, a straight imposition of the equilisation levy on the total consideration would amount to double taxation. Mumbai: The Central Board of Direct Taxes (CBDT) may relook at the ‘equalisation levy’ for purchases where Indian businesses use overseas ecommerce platforms to sell goods and services to Indian consumers. The 2% levy paid by foreign ‘ecommerce operator’ on gross consideration attempts to address tax challenges in an increasingly digital economy. But in cases where a local buyer and sell...
Source: indiatimes.com