INTRODUCTION Revolution of business models due to digitalization is not a recent development. The advent of digitalized business models can be traced way back to early 1990s. Amazon.com, one of the leading e-commerce platforms, was founded in 1994. Similarly, some other leading digital behemoths, viz., Audible, Google, Facebook, Apple etc., were founded decades back and the success of these digital giants is not an obscure fact. This paradigm shift in the way businesses are conducted, entails evolution of tax laws which have traditionally been framed to deal with conventional ‘brick and mortar’ business models. Over two decades now, but countries are still working to find a holistic and full proof solution to tax digital businesses. Work of global forums, viz., the United Nations (‘UN’) and the Organization for Economic Coopera.......