Goods and Services Tax – GST – By: – Dinesh Kumar – Dated:- 13-11-2018 – The Government has notified the effective date of implementation of TCS provisions in GST returns w.e.f. 1.10.2018 (unless extended). This requires E-commerce operators like Amazon, Flipkart, etc. to collect TCS on the Transaction made by the suppliers through their portals w.e.f. the same date. If any under reporting is found, the same would be penalized by adding to the account of the supplier. The learned authors looks at the related provisions to bring attention to them so as to avoid penal actions. As many transactions nowadays are happening through e-commerce mode, their day to day use in life is increasing. But with the implementation of GST, selling and purchase through GST is not as easy as it was earlier. There are many boundaries and restriction while transacting through E-Commerce. We will discuss here the provisions of TCS on E-commerce Operators. E-commerce is the buying and selling of goods and ser
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mmerce Suppliers. 3. Liability to collect TCS As per provision of section 52 of the CGST Act, every e-commerce operator, not being an agent is required to collect tax known as TCS on the net taxable value in case a supplier supplies some goods or services through its portal and the payment for that supply is collected by the e-commerce operator. Tax is to be collected on net taxable value of goods or services supplied by other suppliers through e-commerce operator. Tax is to be collected on net taxable value of goods or services supplied by other suppliers through e-commerce operator. Explanation to section 52(1) clarifies that net value of taxable suppliers shall mean the aggregate value of taxable suppliers of goods or services or both made during any month by all registered persons through the e-commerce operator as reduced by the aggregate value of taxable supplies returned to the suppliers during the said month. Further, specified services on which ecommerce operator itself is lia
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e rank of Deputy Commissioner can issue a notice to the E-Commerce Operator asking him to furnish details regarding the volume of Goods/Services supplied, rate and value, goods still lying in godown etc. On receiving such notice the operator is required to furnish such details within 15 working days. In case the operator fails to furnish such information within 15 days, he would be liable for penal action and penalty upto ₹ 25000. Further other relevant points can be noted out which are as follows: The seller is required to follow the process of filing other GSTR Returns as applicable from time to time The seller is required to disclose the sale made through GSTR-1 Return. The GST no. of the E-commerce portal is required to be disclosed in GSTR-1. The E-commerce portal would be specifically required to raise an invoice to the seller for the commission being charged by them for selling the product on the E-Commerce portal. 6. Conclusion Subject to above there are many other rules
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