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Equalization levy

  • June 30, 2020
  • Posted by: OptimizeIAS Team
  • Category: DPN Topics
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Subject: Economy

Context:

Just one week left to pay first installment of the equalisation levy on e-Commerce companies.

Concept:

  • Equalization Levy was introduced in India in 2016-2017, with the intention of taxing the digital transactions i.e. the income accruing to foreign e-commerce companies from India.
  • Equalization Levy is a direct tax, which is withheld at the time of payment by the service recipient.
  • The two conditions to be met to be liable to equalization levy:
  • The payment should be made to a non-resident service provider;
  • The annual payment made to one service provider exceeds Rs. 1, 00,000 in one financial year.
  • The following services covered:
  • Online advertisement
  • Any provision for digital advertising space or facilities/ service for the purpose of online advertisement;
  • Currently the applicable rate of tax is 6% of the gross consideration to be paid.
economy Equalization levy
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