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of <h1>GST Council Cuts TCS Rate to 0.5% Starting July 10, 2024; Resolution for GSTR-8 Filing Errors Expected by August 6.</h1> The GST Council has reduced the TCS rate from 1% to 0.5%, effective from July 10, 2024, as per Notification No. 15/2024. The previous rate of 1% applies from July 1 to July 9, 2024. Taxpayers must update their systems to reflect the new rate for transactions from July 10 onward. Some taxpayers have experienced validation errors when filing GSTR-8 for July 2024. The GSTN team is addressing these issues and expects to resolve them by August 6, 2024, allowing users to file returns from midnight onwards.
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