https://www.taxtmi.com/circulars?id=69911 GST valuation for supplies involving Tax Collected at Source (TCS) under the Income Tax Act is clarified by corrigendum to the earlier circular. The revised position states that, for determining the value of supply under GST, TCS is not to be included because it is an interim levy on possible income and does not have the character of a tax on goods. The clarification revises the earlier statement that had treated TCS as part of the taxable value merely because the amount payable to the supplier was described as inclusive of TCS. en-us Thu, 14 Mar 2019 00:00:00 +0530 Mon, 04 May 2026 16:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=69911 GST valuation for supplies involving Tax Collected at Source (TCS) under the Income Tax Act is clarified by corrigendum to the earlier circular. The revised position states that, for determining the value of supply under GST, TCS is not to be included because it is an interim levy on possible income and does not have the character of a tax on goods. The clarification revises the earlier statement that had treated TCS as part of the taxable value merely because the amount payable to the supplier was described as inclusive of TCS. Circulars GST - States Thu, 14 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=69911