E-commerce operator has to file GSTR – 8 on monthly basis with the details of the TCS Recovered from various suppliers, tax recovered, tax paid etc.,
GST Tip – 78
The amount of TCS_GST recovered / deducted by the e-commerce operator is eligible as input tax credit for the registered tax payer under GST.
GST Tip – 77
Collection of Tax at Source or TCS_GST is applicable based on section 56 of the Revised Model GST Law and the tax rate is one percent of the net value of the taxable supplies made for consideration.
GST Tip – 76
Tax Collected at Source i.e TCS is also applicable under GST, similar to TCS under Income Tax Act, TCS_GST is to be deducted by e-commerce operators while making payments to their suppliers.