Section 27, The Finance Act, 2021

Section 2 of the Goods and Services Tax Act 2009 isamended by inserting the following new definitions - "advertising-based platform" means any digital platform that provides users free access to a webbased service, including a search engine or social media, and charge other persons for advertisement, an often pay-per-click" fee to advertise on the website. "agency platform" means any digital platform that makes sales on behalf of another taxable person or resell in their own name and earn a commission from the sale or earn a mark-up. "digital marketplace" means a platform that allows, enables or releases support for direct interactions between buyers and sellers of goods and services through any electronic or digital means for fee, commission, mark-up or direct business benefit. "E-commerce platform" means any digital platform that facilitates the sale of goods between suppliers, whether own-goods-sellers or sales intermediaries, and consumers who transact through the platform, of ninth schedule to Act No. 8 of 2000. of section 2 for which payment is normally made through the platform that charges a commission to the vendor for each sale. "peer-to-peer platform" means any digital sales intermediary or platform that facilitates sales between individual suppliers and consumers with the platform receiving a commission for each transaction such as ride-sourcing services, accommodation rentals, and household chores, offered by self-employed individuals who own the assets for offering the services. "subscription-based platforms" means any digital platform that provides goods or services to consumers in exchange for paying membership fees at regular intervals, whether in an on-going or oneoff contracted basis.