Equalisation Levy 2020: India and USA Agrees to Extend Transitional on Levy Approach until June 30, 2024

The Equalisation Levy 2020, impacting digital transactions, has been extended in both India and the USA until June 30, 2024. This extension continues the transitional approach agreed upon by both countries. The levy, aimed at ensuring fair taxation in the digital economy, covers specified services provided by non-resident e-commerce operators to Indian residents. This extension reflects ongoing negotiations and the recognition of digital taxation challenges globally, emphasizing the need for a coordinated approach among nations.