Gst faq on tcs

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August undefined, 2024

WebMar 15, 2024 · So keeping this in mind, we have gathered some of the most important FAQs on TCS for your reference. Q1. What is TCS under GST? Ans. TCS ( Tax Collected at … WebDocuments required for GST Registration Refund in GST identify the situations leading to refund claim explain the time limit for claiming refund and concept of ‘relevant date’ to calculate such time limit identify the conditions to be satisfied and documents to be filed to claim the refund in different circumstances

GST - TDS and TCS

WebMar 27, 2024 · Tax Collected at Source (TCS) under GST law. Under Section 52 of the CGST Act, 2024, every electronic commerce operator, not being an agent, shall collect … WebApr 30, 2024 · GST solution pre-requisites has to be met and minimum support package of the SAP system should be as per note 1175384. Common Issues/Queries: For queries on TCS, refer the below FAQ note. 2963124 – FAQ on Tax Collected at Source (TCS) Refer KBA 2898812 for TCS solution related notes (2898812 – [INAR] Amendment to … trade show meme

GST Invoice, GST Invoice Number and FAQs - getswipe.in

WebJun 27, 2024 · In the left pane, select Sale of Goods. Create a withholding tax group that has the TCS tax type, and set the Tax liability on payment option to Yes. Go to Tax > … WebIn this case who is liable to collect TCS. Ans – As per Sr no. 28 of FAQ on TCS issued by GST committee, in such a case the e-commerce operator who is making payment to the hotel is liable for collection of TCS. Therefore, Fab hotel is liable to collect TCS in such case. WebGet the best answer to the most frequently asked question (FAQs) related to TDS/TCS, GST, GST invoices, due dates for e-filing, HSN and SAC codes, and more. ... This return is filed by the e-commerce operators who are required to collect TCS in GST and filed GSTR-8 during the financial year. the sac bolt

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FAQ - TCS provisions under GST by Law Committee of GST …

WebFrequently Asked Questions on TCS Sr. no. Question Answer 1. What is Electronic Commerce? As per Section 2(44) of the CGST Act, 2024, electronic Commerce means the supply of goods or services or both, including digital products over digital or electronic network. 2. Who is an e-commerce operator? WebDec 4, 2024 · TCS is not applicable under the sales receipts of INR 50 Lakhs. So, TCS is not applicable on the sale of Rs. 25 Lakh received after October 1, 2024. On the other side, TCS will be applicable when the … trade show melbourneWebTCS full form stands for Tax Collection at Source under GST (TCS) is similar to TDS but has a few key differences. TDS is the tax deducted when the recipient of goods or services … the sacagawea

"WebGST Publications (No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form, or by any means, electronic, mechanical, photocopying, recording, or otherwise without prior permission, in writing, from the ICAI) You are here: Home GST Publications Background Material on GST Handbooks FAQ based " - Gst faq on tcs

Gst faq on tcs

What do you mean by TCS under GST? - Corpbiz Advisors

WebOct 13, 2024 · Login to the GST Portal with valid credentials. Click the Services > Returns > TDS and TCS credit received command. The TDS and TCS credit received page is displayed. Select the Financial Year & Return Filing Period (Month) for which you want to file the TDS and TCS Credit Received from the drop-down list. WebApr 8, 2024 · Eg- Value of restaurant services charged by Restaurant – Rs. 100. Discount provided by Swiggy – Rs. 10. Net amount charged- Rs. 90. Swiggy would be required to pay tax on Rs. 100. Certain Clarifications has been made regarding Restaurant Services provided through ECO vide Circular No. 167/23/2024-GST dated 17 December 2024.

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WebHandbook on Foreign Trade Policy - Incentives Schemes & Related FAQ - 23rd August, 2024; Handbook on Input Service Distributor under GST - 23rd August, 2024; Handbook … Web2 days ago · The company said its revenue increased by 16.9% to Rs 59,162 crore in Q4 from Rs 50,591 crore a year ago With today's results, TCS has set the pace for IT industry, which facing a potential recession in its primary markets, namely the US and Europe, as well as unrest in the US banking sector.

Web1 day ago · Listen to This Article. The impact of the banking crisis in the US was visible in IT bellwether Tata Consultancy Services' (TCS) weak performance in the March quarter of fiscal 2024 (Q4FY23). The firm witnessed slower revenue growth in Q4FY23 and failed to meet its FY23 exit Ebit margin of 25 per cent as some clients, especially in the North ... WebMay 11, 2024 · Step 1: Login to GST Portal. Step 2: Go to Services > Returns > Returns Dashboard. Step 3: Select Financial year, month and click on “PREPARE ONLINE”. Step …

WebJun 30, 2024 · CBDT must issue a clarification on this issue. However, Dynamics 365 F&O advance threshold feature provides an option to the user to include or exclude “other taxes including GST” for TDS or TCS calculation. Under the withholding tax group, the user has the option to exclude GST tax for TDS calculation. WebSep 28, 2024 · FAQ on TCS provisions under GST by Law Committee GST Council. E-Commerce operator has to obtain separate registration for TCS . As per Notification No. 51/2024 – Central Tax, TCS provisions under GST applicable from 01.10.2024. Under section 52 of CGST Act, electronic commerce operator are liable to deduct TCS.

WebThe genesis of the introduction of GST in the country was laid down in the historic Budget Speech of 28th February 2006, wherein the then Finance Minister laid down 1st April, …

WebSep 30, 2024 · 22 FAQs on TCS Under GST. After deferring the provisions related to TCS since the implementation of GST, Government has, vide Notification No. 50/2024 – … trade show merchandiseWebApr 30, 2024 · GST solution pre-requisites has to be met and minimum support package of the SAP system should be as per note 1175384. Common Issues/Queries: For queries … trade show material handlingWebApr 13, 2024 · #gstrefund#howtogstrefund#gsttdscredit#gsttcscredit#gsttdsrefund#gsttcsrefund#gst#tds#tcs#refund#cashledger#creditledger#return#gstr7#itc#latest#howto#gstupd... the sacagawea “cheerios” 2000 dollarWebAug 1, 2024 · Tax Collected at Source or TCS -Example. To understand this tax let us explain the process with the help of an example. If a buyer is purchasing a car that costs Rs 10.01 lakhs then an amount of Rs 10,010 would be payable as TCS. This amount would need to be submitted to a particular branch of the bank which has been given permission … tradeshow meansWebMar 24, 2024 · I am attaching a screenshot. As you can see its saying that tax deducted is only 0.15$ and therefore I am not getting where my rest of the earning has gone. Below … trade show miami hospitality suppliers expoWebJan 17, 2024 · TCS 조항은 2024년 4월 1일부터 유효하며 여행사에 적용됩니다. 여행사는 대가와 상관없이 TCS를 징수해야 합니다. 여행사가 개인 또는 HUF인 경우 요율은 1%이고 기타 여행사는 2%입니다. 이 블로그 게시물의 목적은 인도의 여행사를 위해 원천 징수 세금(TCS)에 대한 the sacchettas.comWebITC at the rate of 60% is allowed where the Central tax rate on goods is 9% or more; it is allowed at the rate of 40% in other cases. It is allowed only after the payment of applicable tax. It can be taken in the first six tax periods only. Deemed credit is allowed only to traders and not to manufacturers. 2. tradeshow media wall