Collection & Recovery of Equalisation Levy on Specified Service – Section 166, Finance Act, 2016

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....t establishment in India hereafter in this Chapter referred to as assessee shall deduct the equalisation levy referred to in section 165(1) from the amount paid or payable to a non-resident in respect of the specified service. Rate of equalization levy 6% of the amount of consideration for specified service paid or payable to a non-resident I respect of specified service by a person resident in ....

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....r exceeds ₹1 Lakhs. Time period for remittance equalization levy The equalisation levy so deducted during any calendar month shall be paid by every assessee to the credit of the Central Government by the 7th of the month immediately following the said calendar month. [The assessee who is required to deduct and pay equalisation levy, shall pay the amount of such levy, by remitting it into ....