New Rate of TCS under GST notified from 10 July 2024

July 11, 2024July 11, 2024 by Pooja Gupta

Rate this post

CBIC via Notification Number 15/2024 of Central Tax, No. 01/2024- Integrated Tax, No. 01/2024- Union Territory Tax Amended the TCS under GST

Click Here to Get Notifications Dated 10 July 20124

TCS stands for Tax Collected at source. Earlier In the GST regime, every e-commerce operator needs to collect 0.5% under CGST Act and 0.5% under SGST Act; In case of inter-state transactions, 1% (under IGST Act) on the net values of taxable supplies made through the e-commerce operator.

Now from 10 July 2024, every e-commerce operator needs to collect 0.25% under CGST Act and 0.25% under SGST Act; In case of inter-state transactions, 0.5%

So From 10 July 2024 TCS to be deducted by E commerce operators like Amazon, Flipkart at 0.5% instead of 1%

Visit www.cagurujiclasses.com for practical courses

Post Views: 5,807

Disclaimer:- The opinions presented are exclusively those of the author and CA Guruji Classes. The material in this piece is intended purely for informational purposes and for individual, non-commercial consumption. It does not constitute expert guidance or an endorsement by any organization. The author, the organization, and its associates are not liable for any form of loss or harm resulting from the information in this article, nor for any decisions made based on it. Furthermore, no segment of this article or newsletter should be employed for any intention unless granted in written form, and we maintain the legal right to address any unauthorized utilization of our article or newsletter.

Pooja Gupta

CA Pooja Gupta (CA, ISA, M.com) having 15 years of experience. Educator and Digital Creator

...