I want to know the applicability of Equalization levy as in one case invoice date is 15/05/2016 i.e. before 01/06/2016 and payment made after 01/06/2016 whether equalisation levy would be applicable??
Pls reply soon.
Menu
Equalisation levy
Replies (3)
according to my view. it is not levible
according to my view. it is not leviable
No, equilisation levy will not be applicable in the instant case as the services were recevied prior to the notified date. This view is supported by Para 163(3) of Chapter VIII of the Finance Act 2016 which is reiterated below for reference.
"(3) It shall apply to consideration received or receivable for specified services provided on or after commencement of this Chapter."
Recent Topics :
- Saving corporate tax completely on profit from rea
- Hi experts need some helps
- A query regarding GST and Place of Supply:
- ADT-3 not filed by previous Auditor
- Revising salary on 24Q Q4 FY 25-26
- LTCG: Home Loan Principal Repayment?
- Ims action relationship query
- GIFT REGARDING
- TDS on salary to non resident managing director
- Ewaybill and Transport documents (Lorry receipt)
Related Topics :
CAclubindia
