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TMI BlogSection 52(1) to 52(3) tax Collected at SourceX X X X Extracts X X X X X X X X Extracts X X X X ..... . TCS as per GST Act, 2017 It is the tax payable by an e-commerce operator to the Government, which the e-commerce operator collects from the payments received from the buyer on behalf of the supplier/seller for the taxable supplies of goods or services made through the e-commerce portal. As per section 52, an e-commerce operator is liable to collect TCS only when the e-commerce platform is use ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ces other than services covered u/s 9(5), GST registration will take into consideration the exemption limit of turnover. [Government had notified the same vide CGST Notification No. 65/2017 dated 15.11.2017.] Collection of TCS * it is the obligation of the e-commerce operator to collect the tax at a specified rate from the consideration received for the taxable supply of goods or services by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on inter or intrastate supplies made through the portal of the operator by other suppliers. * In the case of intra-state supplies: - 0.5% of the net value of taxable supplies (i.e. 0.25% of CGST and 0.25% of SGST ) Notification No. 15/2024- Central Tax date 10.06.2024 or * In the case of inter-state supplies: - 0.5% of the net value of taxable supplies (i.e. 0.5% of IGST) Notification No. 01/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the said month. i.e. Net value of taxable supplies equals to :- * Aggregate value of Taxable Goods & services - Services Referred Under section 9(5) - Aggregate value of taxable supplies returned Note: The value of net taxable supplies is calculated at the GSTIN level. TCS collected by an e-commerce operator [ section 52(3) ] An e-commerce operator has to deposit the TCS collected with the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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