6% levy on ad firms to hurt tech startups: IAMAI
IAMAI on Thursday said that the proposed 6% equalisation levy on digital ad firms by the government will "severely raise the cost of doing business" for Indian tech startups. Claiming that this will substantially raise operation costs, IAMAI added, “Tech startups are already paying 14.5% service tax to use these ad platforms, which amounts to an estimated ₹906 crore of taxes”.