The government proposed abolishing the 6% Equalisation Levy on online advertisements from April 1, 2025, a move expected to benefit advertisers on digital platforms such as Google, X, and Meta. This is part of the 59 amendments to the Finance Bill introduced in the Lok Sabha by Minister of State for Finance Pankaj Chaudhary.The Equalisation Levy, first imposed on June 1, 2016, was designed to tax online advertising services, digital ad space, and related facilities. As per the amendments to the Finance Act, 2016, Section 163 will no longer apply from April 1, 2025. The Finance Act, 2020, had further extended the levy’s scope to e-commerce transactions at a rate of 2%, but this was abolished on August 1, 2024. n18oc_breaking-news News18 Mobile App – https://onelink.to/desc-youtube
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