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India Automobile Group Siam Seeks Clarity on Equalization Tax

Aug. 10, 2021, 11:30 AM

Equalization Levy is a concern for digital transactions in the automobile sector, Society of Indian Automobile Manufacturers says in a statement, asking the govt to clarify the scope of the 2% tax.

  • Digitalization is used in the auto sector for convenience and increasing efficiencies, and not for taking a final commercial decision on sale and purchase, Rajesh Menon, Director General of Siam says in the statement
  • Internal digital system for supply chain management should not fall within the provisions of equalization levy, he says
  • NOTE: On July 12, India EL 2021—Expansion of Provisions: Tax Insight
  • NOTE: In March 2020, ...

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