HOW TO DISCLOSE TCS AMOUNT IN GSTR1

[SANJEEV JADHAV]

Dear Experts, From 1st of April 2021 we have started to charge TCS @ 0.1% in invoice. (Earlier we are issuing debit notes for TCS, but it is noticed that may customers are not booking debit notes in their accounts) and now we are charging the same in invoice. Suppose if our invoice figures are as per below:-

Taxable amount is ₹ 100000/-

GST 18% 18000/-

Total Amount 118000/-

TCS @ 0.1% 118/-

Total invoice Amt. 118118/-

In GSTR-1, their is no any separate column to show TCS amount. Which amount is required to be shown in GSTR-1 as Invoice total amount (₹ 118000/- or ₹ 118118/-) . If we shown 118118/- as per invoice total, then gross total in GSTR-1 will mismatch as we are not showing TCS in GSTR-1 and vice versa if we show 118000/- then it will be mismatch to customers at the time of ITC reconsilation. Can you please inform your suggestion in this regard.

[Rajagopalan Ranganathan]

Sir,

You are required to file GSTR-8under rule 67 (1) of CGST Rules, 2017. In this return Columns 4 to 7 are the relevant for indicating tax collected at source (TCS).

[SANJEEV JADHAV]

Dear Sir, We are collecting TCS as per Section 206C (1H) of Finance Act 2020.

[Rajagopalan Ranganathan]

Sir,

You are collecting TCS under Income Tax Act. In my opinion this need not be shown in GSTR-1. You have to indicate only ₹ 18,000/- as gst liable to be paid in GSTR-1

[Ganeshan Kalyani]

Show ₹ 118118/- under invoice value.

[Alfred avinash]

Dear Sanjeev,

The invoice value including TCS to be shown in GSTR 1

[Rajagopalan Ranganathan]

sir,

The gst is payable on 118118.

[shwetal oswal]

Respected Sanjeev Sir,

You have to show total Invoice Value as ₹ 118118/- even though Total of Taxable Value + GST will be ₹ 118000/-.

There will be no mismatch during re-conciliation.

[SANJEEV JADHAV]

Dear All Experts, Noted and Thanks you for your valuable suggestion.

AI Summary

Tax Collected at Source must be included in invoice value for GSTR 1, while GST is reported separately.
Invoice totals that include Tax Collected at Source should be shown in GSTR 1 while the taxable value and GST amount are reported as the GST liability; TCS collected under the Income Tax framework is treated separately from GST, and a different return was suggested by one respondent for indicating TCS.