Executive summary
The Union Budget of India 2020 introduced an amendment to expand the scope of the Equalization Levy (EL) to cover consideration received by nonresident e-commerce operators (e-com EL) from specified transactions. The e-com EL provisions are effective from tax years commencing on or after 1 April 2020 at the rate of 2% on consideration received or receivable by a nonresident e-commerce operator from specified transactions if such receipts exceed INR20 million (US$265,00…