Tax at Source collection required from tea sellers and auctioneers for goods and brokerage through escrow payment mechanism. The operator of the electronic auction system is an electronic commerce operator obliged to collect Tax at Source. Buyers pay consolidated sums into an escrow from which the operator remits payments to sellers for tea (goods) and to auctioneers for brokerage (services). TCS must be collected separately from sellers on the net value of goods and from auctioneers on the net value of services.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax at Source collection required from tea sellers and auctioneers for goods and brokerage through escrow payment mechanism.
The operator of the electronic auction system is an electronic commerce operator obliged to collect Tax at Source. Buyers pay consolidated sums into an escrow from which the operator remits payments to sellers for tea (goods) and to auctioneers for brokerage (services). TCS must be collected separately from sellers on the net value of goods and from auctioneers on the net value of services.
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