Tax Collected at Source exclusion: TCS is not includible in GST taxable value, treated as an interim levy. The corrigendum states that Tax Collected at Source (TCS) under the Income Tax Act is an interim levy on potential income and not a tax on goods, and therefore TCS shall not be includible in the taxable value for GST determination; stakeholders may report implementation difficulties to the issuing authority and a similar corrigendum has been issued by the central GST policy wing.
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 Collected at Source exclusion: TCS is not includible in GST taxable value, treated as an interim levy.
The corrigendum states that Tax Collected at Source (TCS) under the Income Tax Act is an interim levy on potential income and not a tax on goods, and therefore TCS shall not be includible in the taxable value for GST determination; stakeholders may report implementation difficulties to the issuing authority and a similar corrigendum has been issued by the central GST policy wing.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
