Author: admin_gst

What will happen if the details remain mismatched?
Question 16
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
Q 16. What will happen if the details remain mismatched?
Ans. The value of a supply relating to any payment in respect of which any discrepancy is communicated and which is not rectified by the supplier in his valid return for the month in which discrepancy is communicated shall be added to the output liability of the said supplier, for the calendar

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is the concept of matching in e-commerce provisions and how it is going to work?
Question 15
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
Q 15. What is the concept of matching in e-commerce provisions and how it is going to work?
Ans. The details of supplies and the amount collected during a calendar month, and furnished by every operator in his statement will be matched with the corresponding details of outward supplies furnished by the concerned su

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Is the e-commerce operator required to submit any statement? What are the details that are required to be submitted in the statement?
Question 14
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
Q 14. Is the e-commerce operator required to submit any statement? What are the details that are required to be submitted in the statement?
Ans. Yes, every operator is required to furnish a statement, electronically, containing the details of outward supplies of goods

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

How can actual suppliers claim credit of this TCS?
Question 13
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
Q 13. How can actual suppliers claim credit of this TCS?
Ans. The amount of TCS deposited by the operator with the appropriate government will be reflected in the cash ledger of the actual registered supplier (on whose account such collection has been made) on the basis of the statement filed by the operator. The same can be used at the time of disc

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is the time within which such TCS is to be remitted by the e-commerce operator to Government account?
Question 12
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
Q 12. What is the time within which such TCS is to be remitted by the e-commerce operator to Government account?
Ans. The amount collected by the operator is to be paid to appropriate government within 10 days after the end of the month in which amount was so collected.
–
Statute, statutor

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

At what time should the e-commerce operator make such collection?
Question 11
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
Q 11. At what time should the e-commer

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Is every e-commerce operator required to collect tax on behalf of actual supplier?
Question 10
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
Q 10. Is every e-commerce operator required to collect tax on behalf of actual supplier?
Ans. Yes, every e-commerce operator is required to collect tax where consideration with respect to the supply is being collected by the e-commerce operator.
–
Statute, statutory provisions legislation, law, enactment, Acts, R

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is meant by “net value of taxable supplies”?
Question 9
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
Q 9. What is meant by “net value of taxable supplies”?
Ans. The “net value of taxable supplies” means the aggregate value of taxable supplies 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 all registered persons through such operator reduced by the aggregate

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

It is very common that customers of ecommerce companies return goods. How these returns are going to be adjusted?
Question 8
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
Q 8. It is very common that customers of ecommerce companies return goods. How these returns are going to be adjusted?
Ans. An e-commerce company is required to collect tax only on the net value of taxable supplies. In other words, value of the supplies which are returned are adjusted in

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is Tax Collection at Source (TCS)?
Question 7
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
Q 7. What is Tax Collection at Source (TCS)?
Ans. The e-commerce operator is required to collect an amount calculated at the rate not exceeding one percent 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

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Will threshold exemption be available to electronic commerce operators liable to pay tax on notified services?
Question 6
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
Q 6. Will threshold exemption be available to electronic commerce operators liable to pay tax on notified services?
Ans. No. Threshold exemption is not available to ecommerce operator who are require to pay tax on notified services provided through them.
–
Statute, statutory provisions

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Will an e-commerce operator be liable to pay tax in respect of supply of goods or services made through it, instead of actual supplier?
Question 5
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
Q 5. Will an e-commerce operator be liable to pay tax in respect of supply of goods or services made through it, instead of actual supplier?
Ans. Yes, but only in case of certain notified services. In such cases tax shall be paid by the electronic commerce operator i

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Whether a supplier of goods or services supplying through e-commerce operator would be entitled to threshold exemption?
Question 4
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
Q 4. Whether a supplier of goods or services supplying through e-commerce operator would be entitled to threshold exemption?
Ans. No. The threshold exemption is not available to such suppliers and they would be liable to be registered irrespective of the value of supply made by them

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Is it mandatory for e-commerce operator to obtain registration?
Question 3
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
Q 3. Is it mandatory for e-commerce operator to obtain registration?
Ans. Yes. The benefit of threshold exemption is not available to e-commerce operators and they would be liable to be registered irrespective of the value of supply made by them.
–
Statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations,

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Who is an e-commerce operator?
Question 2
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
Q 2. Who is an e-commerce operator?
Ans. Electronic Commerce Operator ha

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is Electronic Commerce?
Question 1
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
8. Electronic Commerce
Q 1. What is Electronic Commerce?
Ans. Electronic

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Is the pre-registration of credit card necessary in the GSTN portal for the GST payment?
Question 28
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 28. Is the pre-registration of credit card necessary in the GSTN portal for the GST payment?
Ans. Yes. The taxpayer would be required to pre-register his credit card, from which the tax payment is intended, with the Common Portal maintained on GSTN. GSTN may also attempt to put in a system with banks in getting

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What does the expression “Net value of taxable supplies” mean?
Question 27
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 27. What does the expression “Net value of taxable supplies” mean?
Ans. The expression “net value of taxable supplies” means the aggregate value of taxable supplies of goods or services, other than services notified under Section 9(5), made during any month by all registered taxable persons through the operator reduced by the aggreg

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is Tax Collected at Source (TCS)?
Question 26
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 26. What is Tax Collected at Source (TCS)?
Ans. This provision is applicable only for E-Commerce Operator under section 52 of CGST/SGST Act. Every ECommerce Operator, not being an agent, needs to withhold an amount calculated at the rate not exceeding one percent of the “net value of taxable supplies” made through it where the consideration with respect to suc

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

How will the TDS Deductor account for such TDS?
Question 25
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 25. How will the TDS Deductor account for such TDS?
Ans. TDS Deductor will account for such TDS in the following ways:
1. Such deductors needs to get compulsorily registered under section 24 of the CGST/SGST Act.
2. They need to remit such TDS collected by the 10th day of the month succeeding the month in which TDS was collected and reported in GS

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

How will the Supplier account for this TDS? while filing his return?
Question 24
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 24. How will the Supplier account for this TDS? while filing his return?
Ans. Any amount shown as TDS will be reflected in the electronic cash ledger of the concerned supplier. He can utilize this amount towards discharging his liability towards tax, interest fees and any other amount.
–
Statute, statutory provisions legislat

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is TDS?
Question 23
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 23. What is TDS?
Ans. TDS stands for Tax Deducted at Source (TDS). As per section 51, this provision is meant for Government and Government undertakings and other notified entities making contractual payments where total value of such supply under a contract exceeds ₹ 2.5 Lakhs to suppliers. While making any payments under such contracts, the concerned Government/authority shall

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is an E-FPB?
Question 22
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 22. What is an E-FPB?
Ans. E-FPB stands for Electronic Focal Point Branch. These are branches of authorized banks which are authorized to collect payment of GST. Each authorized bank will nominate only one branch as its E-FPB for pan India Transactions. The E-FPB will have to open accounts under each major head for all governments. Total 38 accounts (one each for CGST, IGST and on

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What does the expression “Other dues” referred to above mean?
Question 21
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 21. What does the expression “Other d

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is the sequence of payment of tax where that taxpayer has liabilities for previous months also?
Question 20
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 20. What is the sequence of payment of tax where that taxpayer has liabilities for previous months also?
Ans. Section 49(8) prescribes an order of payment where the taxpayer has tax liability beyond the current return period. In such a situation, the order of payment to be followed is: First self-as

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =