India: Finance (No.2) Bill 2024 withdrawing equalisation levy on non-resident digital service providers was introduced to House of People

On 23 July 2024, the Finance (No.2) Bill 2024 was introduced to the House of People. The Bill withdraws the existing 2% equalisation levy requirement on non-resident digital service providers. The Finance Act of 2020 expanded the equalisation levy to e-commerce operators located outside India. A 2% tax was applicable for the online sale of goods owned or facilitated by the e-commerce operator, and online provision of services provided by or facilitated by the e-commerce operator.