Clause 159 - Amendment of Act 28 of 2016. - Finance Bill, 2021

PART XIII AMENDMENT TO THE FINANCE ACT, 2016 Amendment of Act 28 of 2016. 159. In the Finance Act, 2016, (a) the following amendments shall be made and shall be deemed to have been made with effect from the 1st day of April, 2020, namely: (i) in section 163, in sub-section (3), the following proviso shall be inserted, namely: Provided that the consideration received or receivable for specified services and for e-commerce supply or services shall not include the consideration, which are taxable as royalty or fees for technical services in India under the Income-tax Act, read with the agreement notified by the Central Government under section 90 or section 90A of the said Act. ; (ii) in section 164, in clause (cb), the following Explanation shall be inserted, namely: Explanation . For the purposes of this clause, online sale of goods and online provision of services shall include one or more of the following online activities, namely: (a) acceptance of offer for sale; or (b) placing of purchase order; or (c) acceptance of the purchase order; or (d) payment of consideration; or (e) supply of goods or provision of services, partly or wholly; ; (iii) in section 165A, in sub-section (3), (A) in the opening portion, for the words section, specified circumstances mean , the following shall be substituted, namely: section, (a) specified circumstances mean ; (B) after clause (a) as so amended, the following clause shall be inserted, namely: (b) consideration received or receivable from e-commerce supply or services shall include (i) consideration for sale of goods irrespective of whether the e-commerce operator owns the goods; (ii) consideration for provision of services irrespective of whether service is provided or facilitated by the e-commerce operator. . (b) in section 191, in the proviso, after the word refundable , the words without any interest shall be inserted and shall be deemed to have been inserted with effect from the 1st day of June, 2016.