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

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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.