Corrigendum to Circular No. 76\/50\/2018-GST dated 31st December, 2018 issued vide F.No. CBEC- 20\/16\/04\/2018-GST
F. No. 20\/16\/04\/2018 -GST Dated:- 7-3-2019 CGST – Circulars \/ Ordes
GST
Corrigendum to Circular No. 76\/50\/2018-GST
\nF. No. 20\/16\/04\/2018 -GST
\nGovernment of India
\nMinistry of Finance
\nDepartment of Revenue
\nCentral Board of Indirect Taxes and Customs
\nGST Policy Wing
\nNew Delhi, Dated the 7th March, 2019
\nTo,
\nThe Principal Chief Commissioners\/ Chief Commissioners\/ Principal Commissioners\/ Commissioners of Central Tax (All)
\nThe Principal Director Generals\/ Director Generals (All)
\nMadam\/Sir,
\nSubject: Corrigendum to Circular No. 76\/50\/2018-GST dated 31st December, 2018 issued vide F.No. CBEC- 20\/16\/04\/2018-GST- Reg.
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n . Accordingly, in S. No. 5 of the Circular No. 76\/50\/2018-GST dated 31st December, 2018: = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Corrigendum to Circular No. 76\/50\/2018-GST dated 31st December, 2018 issued vide F.No. CBEC- 20\/16\/04\/2018-GSTF. No. 20\/16\/04\/2018 -GST Dated:- 7-3-2019 CGST – Circulars \/ OrdesGSTCorrigendum to Circular No. 76\/50\/2018-GST F. No. 20\/16\/04\/2018 -GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing New Delhi, Dated the … Continue reading “Corrigendum to Circular No. 76\/50\/2018-GST dated 31st December, 2018 issued vide F.No. CBEC- 20\/16\/04\/2018-GST”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-17218","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/17218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17218"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/17218\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n For
\n 5.
\nWhat is the correct valuation methodology for ascertainment of GST on Tax collected at source (TCS) under the provisions of the Income Tax Act, 1961?
\n1. Section 15(2) of CGST Act specifies that the value of supply shall include “any taxes, duties cesses, fees and charges levied under any law for the time being in force other than this Act, the SGST Act, the UTGST Act and the GST (Compensation to States) Act, if charged separately by the supplier.”
\n2. 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 <\/p>\n
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