Budget 2024: FM Proposes to Withdraw 2% Equalization Levy for E-

In the 2024 Budget, Finance Minister Nirmala Sitharaman proposed the withdrawal of the 2% equalization levy on e-commerce platforms. This measure, initially introduced to tax digital transactions involving non-resident companies, has faced criticism for its complexity and impact on international trade. The government's decision aims to simplify tax regulations and align with global practices, potentially fostering a more business-friendly environment. The withdrawal reflects a shift towards more harmonized international tax rules, balancing the interests of domestic and foreign companies in the digital economy.