Tax Collected at Source excluded from GST valuation; interim income levy not includible in taxable value. The Commissioner clarifies that Tax Collected at Source (TCS) under the Income Tax Act is an interim levy on potential income and not a tax on goods; therefore TCS is not includible in the value of supply for GST valuation despite prior guidance referencing inclusion of taxes and charges.
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Provisions expressly mentioned in the judgment/order text.
Tax Collected at Source excluded from GST valuation; interim income levy not includible in taxable value.
The Commissioner clarifies that Tax Collected at Source (TCS) under the Income Tax Act is an interim levy on potential income and not a tax on goods; therefore TCS is not includible in the value of supply for GST valuation despite prior guidance referencing inclusion of taxes and charges.
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