TaxTMI 
TaxTMI 
Collection of TCS by E-commerce operators
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....ate not exceeding 1%, as notified by the Government on the recommendations of the Council, of the net value of taxable supplies made through it, where the consideration with respect to such supplies is to be collected by such operator. The amount so collected is called as Tax Collection at Source (TCS). * Electronic Commerce, As per Section 2(44) of the CGST Act, 2017, electronic Commerce m....
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.... the recommendation of the council under * As per the Notification No. 52/2018 - Central Tax dated 20th September, 2018 the rate of tax collection at source (TCS) to be collected by every electronic commerce operator for intra-State taxable supplies * SGST Act - 0.5% of the net value of intra-State taxable supplies made through it by other suppliers where the consideration wit....
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....of goods or services or both, other than the services on which entire tax is payable by the e-commerce operator, made during any month by a registered supplier through such operator reduced by the aggregate value of taxable supplies returned to such supplier during the said month. In other words, value of the supplies which are returned (supply return) may be adjusted from the aggregate value of t....
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....rvices, other than supplier of services under section 9(5) of the CGST Act, 2017, through an e-commerce platform were exempted from obtaining compulsory registration provided their aggregate turnover does not exceed INR 20 lakhs (or INR 10 lakhs in case of specified special category States) in a financial year. TCS Collection:- who's suppliers are not liable for registration, e-commerce ....