Tax Collection at Source on e-commerce platforms requires e-commerce operators to collect and remit monthly under GST.
E-commerce operators must collect and remit tax at source under Section 52 on taxable supplies where consideration is collected by the ECO, with liability arising when the supplier issues the invoice. TCS is calculated supplier-wise on the net value of taxable supplies (invoices minus credit notes); negative net values are ignored. ECOs must file monthly FORM GSTR-08, deposit TCS to the electronic cash ledger by the due date using cash funds only, and provide reported TCS credit to suppliers who may accept or reject the entries. (AI Summary)