The equalisation levy India imposed on the advertisements that global firms like Google and Facebook generate from India may have crossed `1,000 crore, but this was never a tax on the incomes they earned out of the country; indeed, as the name makes clear, this was merely a way to ensure advertisements on Google/Facebook paid the same level of GST as was paid when an advertisement was put in an Indian newspaper/ online venture. The 2018 budget sought to tax their profits by extending the concept of Significant Economic Presence to firms that had no permanent establishment in the country, but this was never really exercised, probably because the government wanted to see how the global consensus on taxing global mainly the US, actually tech firms evolves.
Source: a2ztaxcorp.com
Latest Posts in "India"
- When Supplier Defaults, Recipient Loses GST ITC: Conflicting High Court Rulings and Legal Analysis
- GSTN Launches Offline Invoice Management System (IMS) Tool; Issues Detailed User Advisory
- SEBI Asks GST Council to Resolve Tax Issues in Physically Settled Commodity Derivatives
- No Reverse Charge Demand if Service Provider Has Fully Paid Service Tax: CESTAT Hyderabad
- Bombay High Court: GST Not Applicable on Complete Assignment of Leasehold Rights as Sale
