Goods and Services Tax : Covers complete TDS and TCS compliance under GST including new metal scrap rules. Provides step-by-step guidance for businesses an...
Goods and Services Tax : When no TCS is collected and NIL filing is not mandatory, late fee under GST cannot be levied. Departmental delay in cancellation ...
Income Tax : Understand the calculation of GST and TCS on motor vehicle purchases. Learn which charges are included in the Ex-showroom and On-r...
Goods and Services Tax : A summary of GST TCS provisions for e-commerce operators, covering collection, deposit, returns, exemptions, and compliance requir...
Goods and Services Tax : Navigate the intricacies of TCS compliance for E-Commerce under GST. Explore applicability, rates, procedural steps, and key clari...
Goods and Services Tax : In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances under Goods & Services Tax (GST) ...
Goods and Services Tax : Dive into the details of Changejar Technologies Pvt. Ltd's GST AAR in Karnataka. Learn about their classification as an e-commerce...
Goods and Services Tax : The ambit of Advance Ruling do not provide for answering the questions raised on provisions relating to 'Tax Collected at Source' ...
Goods and Services Tax : Notification No. 15/2024-Central Tax dated 10th July 2024: E-commerce operators (not agents) now collect 0.25% (reduced from 0.50%...
Goods and Services Tax : Notification No. 01/2024-Integrated Tax dated 10th July 2024: E-commerce operators (not agents) now collect 0.5% (reduced from 1%)...
Goods and Services Tax : Notification No. 01/2024-Union Territory Tax dated 10th July 2024: E-commerce operators (not agents) now collect 0.25% (reduced fr...
Goods and Services Tax : Read Circular No. 194/06/2023-GST from CBIC clarifying TCS liability under Section 52 of the CGST Act in cases of multiple E-comme...
Goods and Services Tax : Extension in dates of various GST Compliances for GST Taxpayers Government has extended the dates of various compliances by Taxpay...
Read Circular No. 194/06/2023-GST from CBIC clarifying TCS liability under Section 52 of the CGST Act in cases of multiple E-commerce Operators (ECOs) in one transaction. Understand the responsibilities of the buyer-side ECO and seller-side ECO in different scenarios. Ensure compliance with section 52 of the CGST Act.
Explore the nuances of TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) mechanisms under GST. Understand their eligibility, rates, registration, returns, and consequences of non-compliance.
A comprehensive guide to Tax Deduction (TDS) and Tax Collection (TCS) for vendors selling products and providing services through E-commerce operators.
TCS stands for Tax Collected at source. In the GST regime, every e-commerce operator needs to collect 0.5% under CGST Act and 0.5% under SGST Act; In case of inter-state transactions, 1% (under IGST Act) on the net values of taxable supplies made through the e-commerce operator.
In this article, we are depicting some of the key parameters which can help E-commerce sellers or anyone planning to start their E-commerce business to assess / step-up their compliance processes:
The ambit of Advance Ruling do not provide for answering the questions raised on provisions relating to ‘Tax Collected at Source’ provided under Section 52 of the Act.
What is Electronic-Commerce? As per section 2(44) of the CGST Act, 2017, ‘Electronic Commerce’ means the supply of goods or services or both over digital or electronic network. Who is Electronic Commerce Operator? As per section 2(45) of the CGST Act, 2017, ‘Electronic Commerce Operator’ means any person who owns, operates or manages digital or […]
In the wake of Covid 19 a number of businesses have taken the business online wherein they are selling their services or goods through some e commerce operator. Hence many new e commerce operators have also started expanding since the last year and during the second wave, there are many new players in the block. H
In response to outbreak of Covid-19 pandemic, the government has issued various notifications ranging from Notification No. 07/2021-Central Tax dated 27.04.2021 to Notification No. 27/2021-Central Tax dated 01.06.2021 extending certain due dates under GST and granting relief to taxpayers in terms of waiver of interest cost on delayed payment of tax and late fees on […]
1. Waiver of Interest for the delay in deposit of tax for the month of March and April 2021 (Notification 08/2021-Central Tax dated 01st May 2021) 1. Taxpayer having turnover of more than Rs 5 crores 15 days from the due date: – 9% of the tax payable After 15 days from the due date:- […]
