India’s Finance Act (FA) 2020 received the assent of the president on 27 March 2020 and has now been enacted. One of the most significant new provisions of FA 2020 is the expansion of the scope of the equalization levy to impose a 2% charge on “e-commerce supply or services” provided by an “e-commerce operator” as from 1 April 2020. The terms are broadly defined and may cover various digital transactions and services. India’s Finance Act (FA) 2020 received the assent of the president on 27 March 2020 and has now been enacted. One of the most significant new provisions of FA 2020 is the expansion of the scope of the equalization levy to impose a 2% charge on “e-commerce supply or services” provided by an “e-commerce operator” as from 1 April 2020. The terms are broadly defined and may cover various digital transactions and services.
Source: Deloitte
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