TCS on GST-inclusive receipts: sellers must collect TCS on amounts that include GST when debited or received. Under section 206C(1), the seller must collect TCS at the earlier of debiting the buyer's account or receipt of payment; accordingly the taxable base for ... Summary
TCS on GST-inclusive receipts: sellers must collect TCS on amounts that include GST when debited or received.
Under section 206C(1), the seller must collect TCS at the earlier of debiting the buyer's account or receipt of payment; accordingly the taxable base for TCS comprises the amount debited or received and includes VAT, excise or GST when those taxes are part of the invoiced amount.
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