Equalisation Levy (Law & Procedure)
- Year of Publication: 2022
- Edition: 1st
- ISBN: 978-93-94163-26-3
- No.of Pages: 525
E-commerce has changed the rules of business. With the rapid development of e-commerce and digital companies across the world, the taxation jurisdiction based on physical presence is now becoming challenging. The e-commerce fundamentally challenges physical presence based permanent establishment rules (PE rules). The digital companies are now well equipped and capable to do businesses in many tax jurisdictions without having physical presence there. With the development of digital economy, various governments and tax authorities have been losing tax revenues. So, many Governments have taken unilateral approach to levy tax on such digital companies in the form of equalisation levy or otherwise. Government of India also levied Equalisation Levy in 2016. India introduced Equalisation Levy on e-commerce vide Finance Act, 2020, beginning 1 April, 2020. The levy is applicable on non-resident e- commerce operators (ECO) for consideration received from supply of goods or services (except for consideration received from online advertisements which are already covered in 2016). India shall continue to impose this levy till March 31, 2024 subject to the implementation of Pillar 1 of the Organisation of Economic Cooperation and Development (OECD) agreement on taxing MNCs.
This book is an effort to explain the laws of equalisation levy in India. The author has also explained the OECD BEPS project, Global Minimum Tax and Anti-Base Erosion Rules.
- CA. Ram Akshya, a Commerce Graduate, is also a Fellow Chartered Accountant having more than 15 years of experience in ‘Tax and Regulatory’ matters. Ram started his professional career with Reliance Industries Ltd., Mumbai as a Manager in their Corporate ‘Legal Compliance Cell’. He then worked with PwC and E&Y in their Indirect Tax practice for more than 6 years. In 2014 & 2015, Ram led the Indirect Tax COE at EY Gurugram. Ram also worked in SS Kothari Mehta & Co. as Director in its IDT practice. Ram started doing own specialised practice in GST and Indirect Taxes in the beginning of 2019 and is expanding it rapidly with his ‘quality delivery’ as well as ‘value added services’.
- Ram’s core specialisation is in GST, Customs, DGFT matters, all India VAT, Excise & Service Tax law. He has worked extensively for Fortune 500 clients. He has also contributed in developing tax technologies/solutions meant for simplifying the tax management and compliances across all segments.
- Ram has been a key participant/speaker on GST matters, discussions in different industry forums. He is a regular contributor to many publications and journals. He is also a column writer.
- Ram has been extensively involved in advising multinational and domestic companies across a range of sectors such as Oil & Gas, Petrochemicals, Pharma, Agriculture, Real Estate, Infrastructure, Banking & NBFC, Housing, FMCG, Electronics, Telecom, Power, IT, Financial, etc.
- Ram has handled implementation of GST in large Corporates. Ram has been providing GST consultancy to many large corporates post GST implementation and is a torch bearer for exceptional client service.
Bharat is a 'trade-name' for a group of concerns, popularly known as Bharat Law House and Bharat Law House Pvt. Ltd. Bharat is one of the most reputed publishers of law books with an experience of over six decades. It possess a very diverse range of publications covering not only the area of taxation - direct and indirect - but also company law, insolvency capital market, finance, industrial law, foreign exchange, commercial, civil and criminal laws. The students publications for CA, CS, CMA, CFA, MBA, graduate and post-graduate studies have carved out a niche for themselves. The Publication House has a professionally qualified team with strong in-house capabilities. Their strength lies in the patronage of legal luminaries in every field. They strive for accuracy, authenticity and sincerity.
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- Year of Publication: 2022
- Edition: 1st
- ISBN: 978-93-94163-26-3
- No.of Pages: 525
E-commerce has changed the rules of business. With the rapid development of e-commerce and digital companies across the world, the taxation jurisdiction based on physical presence is now becoming challenging. The e-commerce fundamentally challenges physical presence based permanent establishment rules (PE rules). The digital companies are now well equipped and capable to do businesses in many tax jurisdictions without having physical presence there. With the development of digital economy, various governments and tax authorities have been losing tax revenues. So, many Governments have taken unilateral approach to levy tax on such digital companies in the form of equalisation levy or otherwise. Government of India also levied Equalisation Levy in 2016. India introduced Equalisation Levy on e-commerce vide Finance Act, 2020, beginning 1 April, 2020. The levy is applicable on non-resident e- commerce operators (ECO) for consideration received from supply of goods or services (except for consideration received from online advertisements which are already covered in 2016). India shall continue to impose this levy till March 31, 2024 subject to the implementation of Pillar 1 of the Organisation of Economic Cooperation and Development (OECD) agreement on taxing MNCs.
This book is an effort to explain the laws of equalisation levy in India. The author has also explained the OECD BEPS project, Global Minimum Tax and Anti-Base Erosion Rules.
- CA. Ram Akshya, a Commerce Graduate, is also a Fellow Chartered Accountant having more than 15 years of experience in ‘Tax and Regulatory’ matters. Ram started his professional career with Reliance Industries Ltd., Mumbai as a Manager in their Corporate ‘Legal Compliance Cell’. He then worked with PwC and E&Y in their Indirect Tax practice for more than 6 years. In 2014 & 2015, Ram led the Indirect Tax COE at EY Gurugram. Ram also worked in SS Kothari Mehta & Co. as Director in its IDT practice. Ram started doing own specialised practice in GST and Indirect Taxes in the beginning of 2019 and is expanding it rapidly with his ‘quality delivery’ as well as ‘value added services’.
- Ram’s core specialisation is in GST, Customs, DGFT matters, all India VAT, Excise & Service Tax law. He has worked extensively for Fortune 500 clients. He has also contributed in developing tax technologies/solutions meant for simplifying the tax management and compliances across all segments.
- Ram has been a key participant/speaker on GST matters, discussions in different industry forums. He is a regular contributor to many publications and journals. He is also a column writer.
- Ram has been extensively involved in advising multinational and domestic companies across a range of sectors such as Oil & Gas, Petrochemicals, Pharma, Agriculture, Real Estate, Infrastructure, Banking & NBFC, Housing, FMCG, Electronics, Telecom, Power, IT, Financial, etc.
- Ram has handled implementation of GST in large Corporates. Ram has been providing GST consultancy to many large corporates post GST implementation and is a torch bearer for exceptional client service.
Bharat is a 'trade-name' for a group of concerns, popularly known as Bharat Law House and Bharat Law House Pvt. Ltd. Bharat is one of the most reputed publishers of law books with an experience of over six decades. It possess a very diverse range of publications covering not only the area of taxation - direct and indirect - but also company law, insolvency capital market, finance, industrial law, foreign exchange, commercial, civil and criminal laws. The students publications for CA, CS, CMA, CFA, MBA, graduate and post-graduate studies have carved out a niche for themselves. The Publication House has a professionally qualified team with strong in-house capabilities. Their strength lies in the patronage of legal luminaries in every field. They strive for accuracy, authenticity and sincerity.
