Poket News

India, US agree on transitional approach on Equalisation Levy 2020

 

  • India and the United States have agreed that the same terms that apply under the October 21 Joint Statement shall apply between the two countries with respect to India’s charge of 2% equalisation levy on e-commerce supply of services and the United States’ trade action regarding the Equalisation Levy. 
  • However, the interim period that will be applicable will be from 1st of April 2022 till implementation of Pillar One or 31st March 2024, whichever is earlier.