Equalization levy was introduced by the Finance Act,2016 on certain non resident companies and related activities. The levy was applied @6% on certain ‘specified services’ such as online advertisement, any provision for digital advertising space or any other facility or services for the purpose of online advertisement if the aggregate amount of consideration for specified services in a previous year exceeds 1 lakh.
Source Taxguru
Latest Posts in "India"
- GST Council’s 5% Tax Retention on EVs Eases Industry Concerns Amid Competitive Pressures
- India Simplifies GST Regime to Two Main Rates, Effective September 2025
- Key Outcomes from the 56th GST Council Meeting
- India’s GST Overhaul: Winners, Losers, and Economic Impact of Tax Cuts
- India’s GST 2.0 Reform: New Two-Rate Structure, Business Impact, and Sectoral Benefits
