CBIC notifies vide Notification No. 01/2024- Union Territory Tax Dated: 10th July, 2024 that every electronic commerce operator, not being an agent, shall collect an amount calculated at a rate of 0.25 percent from 10th July 2024 instead of earlier rate of half per cent. of the net value of intra-Union Territory (without legislature) taxable supplies made through it by other suppliers where the consideration with respect to such supplies is to be collected by the said operator.
Electronic Commerce Operators (ECOs) are required to collect Tax Collected at Source (TCS) on net taxable supplies under Section 52(1) of the CGST Act. As per 53rd GST Council meeting recommendations TCS rate reduced from present 1% (0.5% CGST + 0.5% SGST/ UTGST, or 1% IGST) to 0.5 % (0.25% CGST + 0.25% SGST/UTGST, or 0.5% IGST).
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)
New Delhi
Notification No. 01/2024-Union Territory Tax | Dated: 10th July, 2024
G.S.R. 381(E). — In exercise of the powers conferred by sub-section (1) of section 22 read with section 21 of Union Territory Goods and Services Tax Act, 2017 (14 of the 2017) and sub-section (1) of section 52 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue) No. 12/2018-Union Territory Tax, dated the 28th September, 2018 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 940(E), dated the 28th September, 2018, namely:-
In the said notification, for the words “half per cent.”, the figure and word “0.25 per cent.” shall be substituted.
2. This notification shall come into force from the date of its publication in official gazette.
[F. No. CBIC-20006/21/2024-GST]
RAGHAVENDRA PAL SINGH, Director
Note: – The principal Notification No. 12/2018-Union Territory Tax, dated the 28th September, 2018 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 940(E), dated the 28th September, 2018.
