New Rate of TCS under GST notified from 10 July 2024

July 11, 2024July 11, 2024 by Pooja Gupta

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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%

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Pooja Gupta

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

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