GST What is Tax Collected at Source (TCS)?

Discussion in 'GST (Goods & Service Tax)' started by Raju Choudhary, Apr 16, 2017.

  1. Raju Choudhary

    Raju Choudhary Active Member Staff Member

    Ans. This provision is applicable only for E-Commerce Operator under section 52 of CGST/SGST Act. Every E-Commerce Operator, not being an agent, needs to withhold an amount calculated at the rate not exceeding one percent of the “net value of taxable supplies” made through it where the consideration with respect to such supplies is to be collected by the operator. Such withheld amount is to be deposited by such E-Commerce Operator to the appropriate GST account by the 10th of the next month. The amount deposited as TCS will be reflected in the electronic cash ledger of the supplier.
     
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