https://www.taxtmi.com/article/detailed?id=7557 ECOs must collect TCS on the net value of taxable supplies where they collect consideration; TCS is collected in the month of receipt, remitted within ten days after month end, reported monthly in FORM GSTR 8 (with an annual statement), and the amount so collected appears as credit in the supplier's return. The net value excludes supplies on which the ECO pays tax and is reduced by returns. Discrepancies between ECO statements and supplier returns are communicated and unrectified amounts are added to the supplier's output liability with interest. en-us Sat, 19 Aug 2017 07:57:14 +0530 Sat, 19 Aug 2017 07:57:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7557 ECOs must collect TCS on the net value of taxable supplies where they collect consideration; TCS is collected in the month of receipt, remitted within ten days after month end, reported monthly in FORM GSTR 8 (with an annual statement), and the amount so collected appears as credit in the supplier's return. The net value excludes supplies on which the ECO pays tax and is reduced by returns. Discrepancies between ECO statements and supplier returns are communicated and unrectified amounts are added to the supplier's output liability with interest. Articles Goods and Services Tax - GST Sat, 19 Aug 2017 07:57:14 +0530 https://www.taxtmi.com/article/detailed?id=7557