Equalisation levy...

THE EQUALISATION LEVIES, touted as 'Google Tax', were designed for the country for a fair share of taxes from the overseas companies profiting from the Indian market via digital means, without commensurate physical presence.

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"Although the 2% levy garnered more criticism from the US, in anticipation of more tariff retaliation by them, the government is trying to show a more accommodative stance, and the removal of 6% levy on online advertising is a step in that direction. However, it remains to be seen if this step, coupled with already ongoing diplomatic measures, would lead to any softening of stance by the US," AKM Global Tax Partner Amit Maheshwari said.