Corrigendum to Circular No. 07 dated 31st December, 2018 issued vide endorsement No. PS/CST/Circular/2018/GST/ 4057-67-Reg.

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....vide endorsement No. PS/CST/Circular/2018/GST/ 4057-67-Reg. Vide serial number 5 of Circular No. 07 dated 31st December, 2018, it was clarified that the taxable value for the purposes of GST shall include the Tax Collected at Source (TCS) amount collected under the provisions of the Income Tax Act as the value to be paid to the supplier by the recipient is inclusive of the said TCS. 2. In the li....

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....time being in force other than this Act, the SGST Act, the UTGST Act and the GST (Compensation to States) Act, if charged separately by the suppplier." 2. It is clarified that as per the above provisions, taxable value for the purposes of GST shall include the TCS amount collected under the provisions of the Income Tax Act since the value to be paid to the supplier by the buyer is inclusive of th....