India: Centralized processing of equalization levy statement scheme 2023
Finance Act, 2020 expanded the scope of equalization levy and introduced a 2% equalization levy on amounts received for e-commerce supply or services
Centralized processing of equalization levy statement scheme 2023
The Central Board of Direct Taxes (CBDT) issued Notification 3/2023 (F. No. 370142/1/2023-TPL) to establish the centralized processing of equalization statement levy scheme 2023—effective 7 February 2023.
Background
The Finance Act, 2016 introduced a 6% equalization levy on amounts received for online advertisement effective 1 April 2016. The Finance Act, 2020 expanded the scope of the equalization levy and introduced a 2% equalization levy on amounts received for e-commerce supply or services.
Read a February 2023 report [PDF 385 KB] prepared by the KPMG member firm in India
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