Questions on Tax Collection at source

Question

Stock Market Box · Accepted Answer

Sr. No.
			 FAQs
			Answers
		
		
			1.
			What does electronic commerce means ?
			According to Section 2(44), the CGST Act 2017, electronic commerce is the supply of goods and services, or both, over digital or electronic networks.
		
		
			2.
			What does e-commerce operator means ?
			According to Section 2(45), the CGST Act 2017, an electronic Commerce operator is any person who manages or owns a digital or electronic platform or facility for electronic commerce.
		
		
			3.
			What does Tax Collection at source means ?
			Section 52 of 2017 CGST Act states that an ecommerce operator must collect an amount not exceeding one percent. This is based on the Government's recommendations to the Council. It is the net value of taxable supply made through it. The consideration in respect of such supplies will be collected by such operator. The tax collected at source is known as Tax Collection At Source (TCS).
		
		
			4.
			What does the government notify for the rate of  Tax collection at source(TCS) ?
			TCS rate is 0.5% for each Act (i.e. TCS rate is 0.5% under each Act (i.e. Notifications No. Notifications No. 52/2018 &ndash; Central Tax and 02/2018 &ndash; Integrated Tax, both dated 20 September 2018, are Page 2 of 11 issued in these regard. Similar notifications were also issued by the respective state governments.

GST

Questions on Tax Collection at source

In what circumstances we can extend the validity of e-way bill ?

How the validity time of e-way bill can be extended ?

Who is authorized to extend the validity of e-way bill ?

In e-way bill , how to tackle ' Bill To ' - ' Ship To ' invoice ?

In e-way bill , how to tackle "Bill from " - "Dispatch from " invoice ?

How a transporter can identify the e-way bill for transportation by taxpayer ?

If goods of single invoice moved in multiple vehicles simultaneously , then how to issue e-way bill ?

Is it compulsory to fill Part-B for e-way bill ?

Can goods be transported only with e-way bill without vehicle information ?

Is the e-way bill required to move consignment for weighment to the weighbridge

Who is authorized to update an e-way bill ?

Is other transporter authorized to update or fill Part-B of e-way bill ?

Goods that are transported in vehicle if they have changed e-way bill , then what is the solution ?

If vehicle with an e-way-bill will be breaks down , then what to do?

How many times a person is allow to update vehicle number or Part-B ?

Can an authorized transporter assign an e-way bill to another transporter for further transport ?

When is the user required to provide transport documents details for goods being transported via rail, air, or ship? This information is only available after goods have been submitted to the relevant authority ?

How to tackle it if the goods with e-way bill has to pass through trans shipment or different vehicles ?

What are the options for transporting goods with an e-way bill using different modes? How do I update the details if so?

How for the same e-way bill can enter multiple modes of transportation like road , ship ,air ?

FAQ Categories

New Offers

Upstox

Stuck with making the first move towards investment? Get our genuine expert opinion today. It's FREE!

Sr. No.	FAQs	Answers
1.	What does electronic commerce means ?	According to Section 2(44), the CGST Act 2017, electronic commerce is the supply of goods and services, or both, over digital or electronic networks.
2.	What does e-commerce operator means ?	According to Section 2(45), the CGST Act 2017, an electronic Commerce operator is any person who manages or owns a digital or electronic platform or facility for electronic commerce.
3.	What does Tax Collection at source means ?	Section 52 of 2017 CGST Act states that an ecommerce operator must collect an amount not exceeding one percent. This is based on the Government's recommendations to the Council. It is the net value of taxable supply made through it. The consideration in respect of such supplies will be collected by such operator. The tax collected at source is known as Tax Collection At Source (TCS).
4.	What does the government notify for the rate of Tax collection at source(TCS) ?	TCS rate is 0.5% for each Act (i.e. TCS rate is 0.5% under each Act (i.e. Notifications No. Notifications No. 52/2018 – Central Tax and 02/2018 – Integrated Tax, both dated 20 September 2018, are Page 2 of 11 issued in these regard. Similar notifications were also issued by the respective state governments.