Equalisation levy reporting: statement of specified services or e commerce transactions, levy computation, payments and verification required. Form No. 1 requires persons subject to the equalisation levy-either an Assessee required to deduct levy on specified services or an E commerce Operator required to pay levy on e commerce supplies-to report filer identification, financial year, total consideration, computed equalisation levy, amounts deducted and paid, payable/refundable balance, interest payable/paid, and to provide transactional particulars and treasury deposit details. The form mandates verification by an authorised officer or Principal Officer and incorporates statutory definitions and the Notification No. 87/2020 substitution.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Equalisation levy reporting: statement of specified services or e commerce transactions, levy computation, payments and verification required.
Form No. 1 requires persons subject to the equalisation levy-either an Assessee required to deduct levy on specified services or an E commerce Operator required to pay levy on e commerce supplies-to report filer identification, financial year, total consideration, computed equalisation levy, amounts deducted and paid, payable/refundable balance, interest payable/paid, and to provide transactional particulars and treasury deposit details. The form mandates verification by an authorised officer or Principal Officer and incorporates statutory definitions and the Notification No. 87/2020 substitution.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
