https://www.taxtmi.com/article/detailed?id=9332 The statute requires an electronic commerce operator, where it collects consideration, to collect tax at source on the net value of taxable supplies effected through its platform, remit the amount and furnish prescribed monthly and annual electronic statements. The net value equals aggregate taxable supplies less returns. Operator statements are matched with suppliers' returns; discrepancies are communicated and unrectified excesses reported by the operator may be added to the supplier's output tax liability, payable with interest. Suppliers can accept TCS credit in their electronic cash ledger as reflected in the operator's statement. en-us Wed, 08 Jul 2020 10:58:02 +0530 Wed, 08 Jul 2020 10:58:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9332 The statute requires an electronic commerce operator, where it collects consideration, to collect tax at source on the net value of taxable supplies effected through its platform, remit the amount and furnish prescribed monthly and annual electronic statements. The net value equals aggregate taxable supplies less returns. Operator statements are matched with suppliers' returns; discrepancies are communicated and unrectified excesses reported by the operator may be added to the supplier's output tax liability, payable with interest. Suppliers can accept TCS credit in their electronic cash ledger as reflected in the operator's statement. Articles Goods and Services Tax - GST Wed, 08 Jul 2020 10:58:02 +0530 https://www.taxtmi.com/article/detailed?id=9332