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India: Finance (No.2) Bill 2024 withdrawing equalisation levy on non-resident digital service providers entered into force

Policy overview

Description

Finance (No.2) Bill 2024 withdrawing equalisation levy on non-resident digital service providers entered into force

On 1 August 2024, the Finance (No.2) Bill 2024 entered into force. 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 opera…

Scope

Policy Area
Taxation
Policy Instrument
Direct taxes including Digital Service Taxes
Regulated Economic Activity
platform intermediary: e-commerce, platform intermediary: other
Implementation Level
national
Government Branch
executive
Government Body
central government

Complete timeline of this policy change

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2024-07-23
under deliberation

On 23 July 2024, the Finance (No.2) Bill 2024 was introduced to the House of People. The Bill withd…

2024-08-01
in force

On 1 August 2024, the Finance (No.2) Bill 2024 entered into force. The Bill withdraws the existing …

2024-08-07
under deliberation

On 7 August 2024, the Finance (No.2) Bill 2024 was passed by the House of People. The Bill withdraw…

2024-08-08
adopted

On 8 August 2024, the Finance (No.2) Bill 2024 was adopted by the Council of States. The Bill withd…

2024-08-16
adopted

On 16 August 2024, the Finance (No.2) Bill 2024 received assent from the President of India. The Bi…