HOW TO DISCLOSE TCS AMOUNT IN GSTR1

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....OW TO DISCLOSE TCS AMOUNT IN GSTR1<br> Query (Issue) Started By: - SANJEEV JADHAV Dated:- 9-5-2021 Last Reply Date:- 12-5-2021 Goods and Services Tax - GST<br>Got 8 Replies<br>GST<br>Dear Experts, From 1st of April 2021 we have started to charge TCS @ 0.1% in invoice. (Earlier we are issuing debit notes for TCS, but it is noticed that may customers are not booking debit notes in their accounts) an....

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....d now we are charging the same in invoice. Suppose if our invoice figures are as per below:- Taxable amount is &#8377; 100000/- GST 18% 18000/- Total Amount 118000/- TCS @ 0.1% 118/- Total invoice Amt. 118118/- In GSTR-1, their is no any separate column to show TCS amount. Which amount is required to be shown in GSTR-1 as Invoice total amount (&#8377; 118000/- or &#8377; 118118/-) . If we sh....

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....own 118118/- as per invoice total, then gross total in GSTR-1 will mismatch as we are not showing TCS in GSTR-1 and vice versa if we show 118000/- then it will be mismatch to customers at the time of ITC reconsilation. Can you please inform your suggestion in this regard. Reply By Rajagopalan Ranganathan: The Reply: Sir, You are required to file GSTR-8 under rule 67 (1) of CGST Rules, 2017. In ....

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....this return Columns 4 to 7 are the relevant for indicating tax collected at source (TCS). Reply By SANJEEV JADHAV: The Reply: Dear Sir, We are collecting TCS as per Section 206C (1H) of Finance Act 2020. Reply By Rajagopalan Ranganathan: The Reply: Sir, You are collecting TCS under Income Tax Act. In my opinion this need not be shown in GSTR-1. You have to indicate only &#8377; 18,000/- as gs....

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....t liable to be paid in GSTR-1 Reply By Ganeshan Kalyani: The Reply: Show &#8377; 118118/- under invoice value. Reply By Alfred avinash: The Reply: Dear Sanjeev, The invoice value including TCS to be shown in GSTR 1 Reply By Rajagopalan Ranganathan: The Reply: sir, The gst is payable on 118118. Reply By shwetal oswal: The Reply: Respected Sanjeev Sir, You have to show total Invoice Value....

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.... as &#8377; 118118/- even though Total of Taxable Value + GST will be &#8377; 118000/-. There will be no mismatch during re-conciliation. Reply By SANJEEV JADHAV: The Reply: Dear All Experts, Noted and Thanks you for your valuable suggestion.<br> Discussion Forum - Knowledge Sharing ....