Proposed Significant Changes related to Tax Deducted at Source (TDS) for e-commerce operators.

  


In her Budget 2024-25 speech, Finance Minister Nirmala Sitharaman proposed a significant change related to tax deducted at source (TDS) for e-commerce operators. Here are the key points:


1. TDS Rate Reduction:

   - The TDS rate for e-commerce operators will be reduced from the existing 1% to 0.1%.


   - This move aims to ease the financial burden on e-commerce businesses and promote growth in the sector.


2. Other Proposals:

   - The budget also includes other measures, such as merging tax exemption regimes, decriminalizing TDS delays, and reviewing customs duties.


   - Additionally, the Equalisation Levy, which was applicable to e-commerce supply of goods or services, will no longer be in effect after 1st August 2024.


3. Boosting E-commerce Exports:

   - The establishment of dedicated e-commerce export hubs is announced to enhance online trade.


   - India's e-commerce exports currently stand at $2 billion, but the potential for growth is immense. Estimates suggest that by 2030, India's e-commerce exports could reach $350 billion.


This budget proposal reflects the government's commitment to supporting the digital economy and fostering a conducive environment for e-commerce bu

sinesses. 🌐💼📊.



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