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TECH GIANTS AND EDTECH FIRMS FACE 18% IGST
The Business Guardian
|September 29, 2023
Effective October 1, 2023, major tech companies like Google, Facebook, X (formerly Twitter), and certain edtech firms are set to face an Integrated Goods and Services Tax (IGST) of up to 18 percent on services provided to both the government and individuals in India. This development comes following a notification issued by the Central Board of Indirect Taxes and Customs, signaling the end of exemptions from IGST for these services, as reported in The Economic Times.
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Under this new regulation, overseas companies offering a range of services, including advertising, cloud services, music streaming, subscription-based services, online education, and information services, will be subject to IGST, irrespective of whether the services are used for personal or business purposes.
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