Equalisation Levy
- On 22nd July, 2024, the Union government decided to withdraw the 2 per cent equalisation levy on e-commerce supply of goods and services from August 1, 2024 in line with the transitional approach worked out with the US to deal with the levy affecting non-resident digital companies including American entities.
- Equalisation Levy was introduced in India in 2016, with the intention of taxing the digital transactions i.e. the income accruing to foreign e-commerce companies from India. This covers income from advertising also which is aimed at taxing business to business transactions.
- From April 1, 2020, an equalization levy (EL) of 2% ....
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