The population of India who is active on using the online services such as Booking.com, AirbNb, Netflix and such, they might have to pay a bit more than usual since the government is planning to increase the charges for the services.
According to the finance bill that will come into the effect from 1st April, the equalisation levy of 2% will be applicable on the sales that is made by the foreign e-commerce companies that are currently operating in Asia’s third largest economy.
It will hit the sale of the companies with more than INR 2 crore in the previous financial year.
According to the experts, companies, like software as a service such as Facebook, Adobe, Google and Microsoft, they are going to see the overseas arms that may be known as Google Tax.
The media firms that already have a subscription led model and which pays the customer comes under the same new rule as well according to the industry expert. This impact will be on everyone but India is still working hard on it as there are many concerns of pushback related.