https://www.taxtmi.com/circulars?id=61023 The corrigendum corrects earlier guidance and, after consultation with the CBDT, clarifies that Tax Collected at Source (TCS) under the Income Tax Act is an interim levy on potential income and not a tax on goods; accordingly, TCS is not includible in the value of supply for GST valuation and should be excluded when determining taxable value. en-us Thu, 28 Mar 2019 00:00:00 +0530 Fri, 17 May 2019 14:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=61023 The corrigendum corrects earlier guidance and, after consultation with the CBDT, clarifies that Tax Collected at Source (TCS) under the Income Tax Act is an interim levy on potential income and not a tax on goods; accordingly, TCS is not includible in the value of supply for GST valuation and should be excluded when determining taxable value. Circulars GST - States Thu, 28 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=61023