• twitter-icon
Unlimited Tax Return Filing


Govt Notified 2% Equalisation Levy for Non-Resident E-commerce Platform Operators

On Thursday the government states that for non-resident e-commerce platforms a 2% levy charge is to be imposed on the earnings originated in India. During depositing and reducing a levy w.e.f April 1 has previously become the responsibility of the resident aspirant of services, the responsibility has now shifted to the non-resident operator, on a quarterly basis the burden is required should fulfil it.

Equalisation Levy 2 Percent for Non-Resident E-commerce

Furthermore, as per the alteration to the yearly statement forms and plea credentials expected to be filed by associated companies, it is necessary for them to get a permanent account number (PAN) Get to know the easy steps about filling Permanent Account Number (PAN) card application through online. Also know the list of mandatory documents in India. The industry had drawn to the council beforehand to review the plan for non-residents to take PAN.

“The challans for payment of e-commerce equalization levy were notified in July 2020 and required furnishing of PAN and Indian bank account for remittance of the levy,” Nangia Andersen LLP partner Sandeep Jhunjhunwala states. He included that a new electronic code to the person which clarifies the yearly statement has also been conducted however it was not of it is used as an alternative to PAN. Moreover, the authority has also held the perspective of limited claim upon the amount of penalty imposed in case of non-payment of the tax however not the quantum for the tax estimation on its own.

Finance Act, 2016, at the rate of 6% has started Referring Google tax to the equalization levy on amounts Know about the Equalisation levy introduced in the union budget 2016-17. We mention its features, applicability, and the deductions under this levy. read more for digital advertisement services collected by outside companies excluding the permanent establishment there if it crosses the limit. The tax is made to reduce the benefits of non-resident eCommerce companies sans their physical presence in the country upon the local ones. A 2% rate is introduced to include consideration received by non-resident e-commerce operators from e-commerce supply and service in the Budget 2020-21.

Disclaimer:- "All the information given is from credible and authentic resources and has been published after moderation. Any change in detail or information other than fact must be considered a human error. The blog we write is to provide updated information. You can raise any query on matters related to blog content. Also, note that we don’t provide any type of consultancy so we are sorry for being unable to reply to consultancy queries. Also, we do mention that our replies are solely on a practical basis and we advise you to cross verify with professional authorities for a fact check."

Published by Arpit Kulshrestha
Arpit Kulshrestha seeks higher interests in financial services, taxation, GST, I-T, etc. Writes articles with depth knowledge and is extensive for the same. The resources provide effective articles for the products of SAG infotech which provides taxation and IT software. Writing from observations and researching makes his articles virtuous. View more posts
SAGINFOTECH PRODUCTS

Leave a comment

Your email address will not be published. Required fields are marked *

Follow Us on Google News

Google News

Latest Posts

New Offer for Professionals

Super Tax Offer

Upto 20% Off
Tax, ROC/MCA, XBRL, Payroll, Online GST

Limited Offer, Hurry

Big Offer for Tax Experts

Upto 20% Discount on Tax Software

    Select Product*

    Genius Software