Gst faq on tcs

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August undefined, 2024

WebGST - TDS and TCS Select Topic Chapters / List TDS Mechanism under GST Conditions for deduction of TDS Rate & Value of supply for deduction of TDS Late fee, interest and penalty on deductor for various defaults in TDS TDS return & submission procedure TCS Mechanism under GST Collection of TCS by E-commerce operators 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.

FAQs > Registration as Tax Collector at Source - Goods …

WebITC 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. WebFeb 15, 2024 · FAQs On TCS And TDS CA Final GST For May 2024 Yashvant Mangal FAQs On TCS And TDS CA Final GST For May 2024 Yashvant Mangal For Notes and more ... set titles in excel

TCS on sales of goods - Finance Dynamics 365 Microsoft Learn

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, … WebMar 6, 2024 · Frequency of GSTR 8. An E-commerce operator needs to file monthly as well as annual returns, which can be attained as follows: Monthly Returns: The TCS collector is required to file a TCS return in form GSTR … 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. set title seaborn plot

TCS on Sale of Goods with Practical Examples & FAQ’s

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WebAug 19, 2024 · Step 1: The first step would be to open the GST portal at gst.gov.in. Once the GST portal is opened, we need to move on to the navigation menu and under the … WebOct 27, 2024 · The Central Board of Indirect Taxes & Customs (“CBIC”) has clarified through the Corrigendum to Circular No. 76/50/2024-GST dated 31st December, 2024 issued vide F.No. CBEC- 20/16/04/2024-GST ... set title pythonWebMar 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 … thetis in iliad and odyssey

"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 … " - Gst faq on tcs

Gst faq on tcs

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. 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

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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 … WebSep 28, 2024 · Tax Collected at Source (TCS) under GST means the tax collected by an e-commerce operator from the consideration received by …

WebFeb 9, 2024 · Tax Collected At Source under GST The following are the provisions related to TCS under GST effective from 1st October 2024: A dealer or trader selling goods online would get the payment from the online platform. The payment would be after deducting an amount tax @ 1 % under IGST Act. (0.5% in CGST & 0.5% in SGST) Web1 day ago · TCS Posts 15% Rise in Q4 Profit, Flags Pain in N American Market. Tata Consultancy Services (TCS) said its net profit for the final quarter of fiscal 2024 rose 15% on-year, but India’s largest software exporter pointed to macroeconomic concerns, especially in the key market of North America, which dragged down its quarterly …

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 … WebApr 14, 2024 · A GST invoice number is believed to be the serial number that is mentioned on the GST invoice. The length of the GST invoice number should not exceed 16 characters, according to rule 46 of the Central Goods and Service Tax Rules, 2024, which means that the GST invoice number can only be up to 16 digits long.

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 – …

WebApr 21, 2024 · Practical FAQs on Input Tax Credit Technical Guide on GST Audit 2024 Handbook on Finalisation of Accounts with GST perspective-23-12-2024 Handbook on Liability to Pay in Certain Cases under GST-23-12-2024 Handbook on Returns and Payments under GST-23-12-2024 Practical FAQ's under GST-23-12-2024 thetis in troyWeb169 rows · Jul 31, 2024 · A person dealing with 100% exempted supply is not liable to … thetis in mythologyWebAug 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 … thetis in greek mythologyWebMar 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 attaching my billing setting. If its need to be please help me out. As I am a Indian student also new in freelancing market I have no idea what do next. set title seabornWebFAQ on Amendment of GST registration. 1. Can amendments be made to the information submitted in the Registration Application? Once the applicant is… settitle twitchWebDocuments 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 thetis island annex elementaryWeb2 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. set title row in excel to appear on each page