In Today’s News:
- Golden birdwing is India’s largest butterfly.
- The Centre won’t extend the deadline for the levy on foreign e-com firms.
1. Golden birdwing is India’s largest butterfly
News Summary
A Himalayan butterfly named Golden BirdWing is India’s largest butterfly. It has replaced the Southern Birdwing’s record as the largest butterfly for the last 88 years.
Prelims GS – Environment
Golden birdwing:
- The female species of Golden Birdwing is larger than the Southern Birdwing which was recorded by Brigadier Evans in 1932.
- However, the male species of Golden Birdwing is much smaller at 106mm.
- The female Golden Birdwing was recorded from Didihat in Uttarakhand.
- The female Golden Birdwing has a wingspan of 194mm whereas Southern Birdwing has a wingspan of 190mm.
2. The Centre won’t extend the deadline for the levy on foreign e-com firms.
News Summary
The Government of India is not extending the deadline for the payment of Equalization levy by non-resident e-commerce players, even though many of them have not paid their first installment.
Prelims GS – Economic Development
Equalization Levy: (NOTE: UPSC PRELIMS 2018 Question)
- Equalization Levy was first introduced in 2016. Its scope was extended in Finance Act 2020.
- Equalization Levy is a direct tax that is levied on foreign e-commerce firms that are providing its services to Indian customers in India.
- In the Finance Act 2016, it was levied on services in the nature of online advertisement/digital space provided by non-resident vendors to Indian resident customers. Equalization Levy was fixed at 6%.
- In the Finance Act 2020, it has included other revenue streams of non-residents also under Equalization Levy. Now Equalization Levy is fixed at 2% for these new sources.
Click here for more information on Equalization Levy.
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