Collection and recovery of equalization levy on e-commerce supply or services – Section 166A, Finance Act, 2016 - International Taxation - Income Tax

Collection and recovery of equalization levy on e-commerce supply or services Section 166A The equalisation levy referred to in section 165A(1) , shall be paid by every e-commerce operator to the credit of the Central Government every end of the quarter of the financial year by the due date specified below mentioned Table: TABLE S. N. Date of ending of the quarter of financial year Due date of the financial year (1) (2) (3) 1. 30th June 7th July 2. 30th September 7th October 3. 31st December 7th January 4. 31st March 31st March. Rounding off of consideration equalisation levy - The amount of consideration, the amount of equalization levy, interest, and penalty payable and refund shall be rounded off to the nearest multiple of ₹10. [Rule 3 of equalization Levy, Rules 2016 as amended by the Equalisation (Amendment) Rules, 2020]. Remittance of Equalisation levy - The assessee or e-commerce operator, as the case may be, who are required to deduct and pay equalisation levy, shall pay the amount of such levy, by remitting it into the Reserve Bank of India or in any branch of the State Bank of India or of any authorised Bank accompanied by an equalisation levy challan. [Rule 4 - Payment of Equalisation levy - Equalisation levy Rules, 2016]