Corrigendum to Trade Circular No. 54/2018 (Circular No. 76/50/2018-GST) dated 31st December, 2018.

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..... Dated 02.05.2019 Vide serial number 5 of Trade Circular No. 54/2018 (Circular No. 76/50/2018-GST) 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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..... rce other than this Act, the CGST Act, the UTGST Act and the GST (Compensation to States) Act, if charged separately by the supplier." 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 the said TCS. Re .....

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