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Showing posts from August 7, 2019

J&K loses special status: Google tax may be levied in new Union Territory

Indiaā€™s version of Google tax, or the equalisation levy, may now be applicable in Jammu & Kashmir. With Parliament passing a Bill to revoke Article 370, digital commerce operators advertising on global social media, which earlier did not pay Google tax on their operations in Jammu & Kashmir, may now have to cough it up at 6 per cent.  According to people across companies, firms such as Facebook, Google, Amazon and Flipkart, among others, are all trying to figure out various tax implications of the governmentā€™s move.  ā€œWe are assessing if we need to start paying additional taxes, and also if we have to change our accounting strategies. This will take a few weeks as the government has just made the announcements. We will get a better idea after we have a meeting with the tax department in Jammu & Kashmir,ā€ said a senior management member at one of the biggest e-commerce firms.  Industry experts believe the equalisation levy is something that may be applicable ...