How to claim TCS under online business?

Posted on 29 April 2023 Category : GST Law

How to claim TCS under online business?

How to get refund of TCS for an Internet business man?

As per GST Law, TCS which is deposited by the operator into government account will be reflected in the cash ledger of the actual registered supplier (on whose account such collection has been made) on the basis of the statement filed by the operator. The same can be used at the time of discharge of tax liability in respect of the supplies by the actual supplier.

Responsibility of e-commerce operator in terms of submitting statement to government

Is the e-commerce operator required to submit any statement? What are the details that are required to be submitted in the statement?

As per Section 43C (4) of GST Law, every operator is required to furnish a statement, electronically, of all amounts collected as TCS towards outward supplies of goods and/or services effected through it, during a calendar month within ten days after the end of such calendar month. The statement shall contain, inter alia, the details of the amount collected on behalf of each supplier in respect of all supplies of goods and/ or services effected through the operator and the details of such supplies during the said calendar month.

The details about responsibility of internet business men to file statement of TCS collected are explained above. If you would like to add more information about Tax Collected at Source (TCS) collection of e-commerce operator, share below your thoughts:

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