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 : Stay updated on GST regulations! Analysis of 9 GST Circulars issued by CBIC on 17th July 2023. Key insights on interest charging, ...
Goods and Services Tax : Explore the nuances of TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) mechanisms under GST. Understand their eligi...
Income Tax : A comprehensive guide to Tax Deduction (TDS) and Tax Collection (TCS) for vendors selling products and providing services through ...
Goods and Services Tax : 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%...
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...
Gist of extension notifications No. 8/2021-Central Tax to 14/2021-Central Tax issued by CBIC on 01.05.2021 by which Relaxation has been provided in respect of Various GST Returns and GST Compliance. 1. Applicable rates of interest (08/2021 – Central Tax): Particulars Months Rate of interest Turnover > 5 crores in Last FY (Monthly Returns) March and […]
Relief Measures announced in GST Compliances In view of spread of pandemic COVID-19 (Issued vide gazette notifications dated 1st May 2021) 1. Waiver of Late Fees for delayed filing of GSTR 3B Return for the month of March & April 2021 [Notification No. 9/2021-CT dated 1st May 2021]: Late fees for delayed filing of GSTR-3B […]
. TCS: Tax collected at source: The online portal like Flipkart, Amazon, Snapdeal, Myntra etc. would collect GST at 1% of taxable value of goods / services sold through them, where the payment is also collected by them on behalf of the sellers. TCS will not be expenses for seller but an asset which can be set-off against their GST tax liability, if any, or otherwise can be claimed as refund.
This article give the standard procedure to comply the TCS under GST rule by the dealer, supplier & operators (read with e commerce operators). The Union Budget 2021 has given a simple & easy route how to Comply the TCS under GST Rule. Introduction: Tax Collection at Source (TCS) has similarities with TDS, as well […]
