notification no. 87/2020 f. no. 370142/21/2020 tpl / so 3865 e equalisation levy amendment rules 2020

[भागII—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 13 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 28th October, 2020 EQUALISATION LEVY S.O. 3865(E).—In exercise of the powers conferred by sub-section (1) and sub-section (2) of Section 179 of the Finance Act, 2016 (28 of 2016), the Central Government hereby makes the following rules to amend the Equalisation levy Rules, 2016, namely:- 1. Short title and commencement. ─ (1) These rules may be called the Equalisation levy (Amendment) Rules, 2020. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Equalisation levy Rules, 2016 (hereinafter referred to as the said rules), in rule 2, after clause (a), the following clause shall be inserted, namely:- ‘(aa) “electronic verification code” means a code generated for the purpose of electronic verification of the person furnishing the statement of specified services as per the data structure and standards laid down by the Principal Director- General of Income-tax (Systems) or Director General of Income-tax (Systems), as the case may be;’. 3. In the said rules, in rule 3,- (a) in the heading, the words “for specified services” shall be omitted; (b) for the words “The amount of consideration, for specified services and”, the words, “The amount of consideration” shall be substituted. 4. In the said rules, for rules 4 and 5, the following shall be substituted, namely:- “4. Payment 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. 5. Statement of specified services or e-commerce supply or services. ─ (1) The statement required to be furnished under sub-section (1) or sub-section (2) of section 167 of the Act shall be in Form No. 1, duly verified in the manner indicated therein, and may be furnished by the assessee or e-commerce operator, as the case may be, in the following manner, namely:- (i) electronically under digital signature; or (ii) electronically through electronic verification code. (2) The statement in Form No. 1 required to be furnished under sub-section (1) of section 167 of the Act shall be furnished on or before the 30th day of June immediately following that financial year. (3) The Principal Director-General of Income-tax (Systems) or Director General of Income-tax (Systems), as the case may be, for the purpose of ensuring secure capture and transmission of data, shall- (i) lay down the procedure for electronic filing of Form No.1; (ii) lay down the data structure, standards and manner of generation of electronic verification code, referred to in sub rule (2), for the purpose of verification of the person furnishing the said form; (iii) be responsible for formulating and implementing appropriate security, archival and retrieval policies in relation to the said form so furnished; and (iv) specify the manner of furnishing the revised statement required to be furnished under sub-section (2) of section 167 of the Act.” 5. In the said rules, in rule 6,- 14 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] (a) in the heading, after the words “specified services” the words “or e-commerce supply or services” shall be inserted; (b) for the words “Where an assessee fails”, the words, “Where an assessee or e-commerce operator, as the case may be, fails” shall be substituted. 6. In the said rules, in rule 7, in the proviso, for the word “assessee”, the words “assessee or e-commerce operator, as the case may be,” shall be substituted; 7. In the said rules, in rule 8, for sub-rules (2), (3) and (4), the following shall be substituted, namely:- “(2) The form of appeal referred to in sub-rule (1), shall be verified by the person who is authorised to verify the statement under rule 5, as applicable to the assessee or e-commerce operator, as the case may be. (3) Any document accompanying Form No. 3 shall be furnished in the same manner in which the Form No. 3 is furnished. (4) The Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems), as the case may be, for the purpose of ensuring secure capture and transmission of data, shall- (i) lay down the procedure for electronic filing of Form No.3; (ii) lay down the data structure, standards and manner of generation of electronic verification code, referred to in sub rule (2), for the purpose of verification of the person furnishing the said form; and (iii) be responsible for formulating and implementing appropriate security, archival and retrieval policies in relation to the said form so furnished.”. 8. In the said rules, in rule 9, for the word “assessee” at both the places where they occur, the words “assessee or e-commerce operator, as the case may be” shall be substituted. 9. In the said rules in the APPENDIX, - (a) for Form No. 1, the following Form shall be substituted, namely: - “FORM NO. 1 [See rule 5 of Equalisation levy Rules, 2016] Statement of Specified Services or E-Commerce Supply or Services EL – 1 □ Please follow instructions. □ Use block letters only. I. Please tick (✔) from the following which is applicable: Assessee E-Commerce Operator II. (i) Statement filed under: Section 167(1)/ 167(2) (Belated/ Revised)/ 167(3) (ii) Document Identification Number, if filed u/s 167(3): ………..………… 1. NAME ACKNOWLEDGEMENT For Office use only Receipt No. Date ………….. ……….… [भागII—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 15 2. ADDRESS 3. PERMANENT ACCOUNT NUMBER/ AADHAAR 4. FINANCIAL YEAR - - 5. WARD/ CIRCLE/ RANGE (IN RS.) 6. TOTAL AMOUNT OF CONSIDERATION (i) FOR SPECIFIED SERVICES PAID/ CREDITED (IN CASE OF ASSESSEE) (ii) RECEIVED OR RECEIVABLE FROM E-COMMERCE SUPPLY OR SERVICES (IN CASE OF E-COMMERCE OPERATOR) 7. EQUALISATION LEVY ON ITEM 6 8. TOTAL EQUALISATION LEVY DEDUCTED (Not applicable in case of e-commerce operator) 9. TOTAL EQUALISATION LEVY PAID 10. EQUALISATION LEVY PAYABLE/ REFUNDABLE (7-9) 11. INTEREST PAYABLE UNDER SECTION 170 12. INTEREST PAID 16 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] PART-B (For Assessee) DETAILS OF EQUALISATION LEVY DEDUCTED AND PAID TO THE CREDIT OF THE CENTRAL GOVERNMENT Sl. No. Name of the non- resident providing specified service Address of the non- resident referred to in column2 PAN, if available, of non - resident referred to column 2 AADHAAR, if available Amount of consideration for specified services paid/ credited Date of payment/ credit of amount of consideration for specified services Equalisation levy Interest Penalty BSR Code Challan Sl. No. Date on which amount deposited (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) PART-B (For E-commerce Operator) DETAILS OF EQUALISATION LEVY PAID TO THE CREDIT OF THE CENTRAL GOVERNMENT Sl. No. Quarter of the Financial Year* Amount of consideration paid/ credited Equalisation Levy Interest Penalty BSR Code Challan Sl. No. Date on which amount deposited (1) (2) (3) (4) (5) (6) (7) (8) (9) *Q1, Q2, Q3 and Q4 to be used for Quarter ending June, September, October and March respectively. VERIFICATION I, _______________________________________ (full name in block