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FAQ’s on TCS in GST to be applicable from 1st Oct 2018

Who is required to collect TCS in GST?

Every electronic commerce operator, not being an agent, shall collect an amount of TCS in GST. As per the Notification No. 51/2018, the provisions of the TCS will be applicable from 1st October 2018.

When TCS will be collected in GST:

There is no threshold limit for the applying the provisions of the TCS. But whenever the transaction is to be done through the electronic commerce operator. The electronic commerce operator will be liable to collect such tax and submit to the government.

On which amount TCS in GST will be collected?

The TCS should be collected at the amount of the transaction made. Whatever the method of recovery, the tax should be collected of the amount.

Explanation.––For the purposes of this subsection, the expression “net value of taxable supplies” shall mean the aggregate value of taxable supplies of goods or services or both, other than services notified under sub-section (5) of section 9, made during any month by all registered persons through the operator reduced by the aggregate value of taxable supplies returned to the suppliers during the said month.

When TCS in GST is required to be deposited to the account of government?

The TCS is required to be deposited on the 10th of next month in which the amount is deducted.

When the return of TDS in GST is required to be filed?

The return of TCS is required to be filed by the 10th of next month.

In which form the return for TDS in GST will be filed?

The return of GST will be filed in FORM GSTR -8.

What is the late fees for the non-furnishing of GST TDS certificate?

A late fee of one hundred rupees per day from the day after the expiry of such five days period until the failure is rectified, subject to a maximum amount of five thousand rupees.

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