Tuesday, 29 November 2016

E-commerce firms like Flipkart and Snapdeal to deduct TCS under GST

As per the new GST law, E-commerce giants Flipkart and Snapdeal will have to deduct 2% TCS (Tax Collected at Source) while making payments to their suppliers and deposited TCS amount with the government. The new model GST law provides for 1% TCS and 1% tax levied on inter-state movement of goods. It will not apply to aggregators like Ola,Uber etc.

Source : Times of India

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