Key Takeaways Under the Goods and Services Tax (GST) regime, Tax Collected at Source (TCS) refers to the tax collected by e-commerce operators from payments received on behalf of sellers using their platform. This provision ensures better tax compliance and tracking of transactions in the digital marketplace. As per Section 206C (1H) of the Income […]
Key Takeaways Tax Deduction at Source (TDS) and Tax Collected at Source (TCS) are two important taxes incurred at the source of income. The credit for TDS and TCS can be accessed once you log into the GST portal. This facility is available to taxpayers involved in specific sales through e-commerce platforms or those who […]
Key Takeaways Tax Collected at Source or TCS is an important tool to keep track of and to control big amounts in business transactions. Section 206C of the Income Tax Act of 1961 mentions that TCS is to be charged on sale of certain goods, including scrap. This guide reviews TCS applicability, rates on scraps, […]
Key Takeaways A new functionality has been introduced on the GST e-invoice portal. It supports businesses in the declaration of their exemptions from electronic invoicing. This update is of much importance for financial institutions and other types of entities which are exempt from generating tax invoices through an e-invoicing system based on annual turnover. The […]
by Key Takeaways The introduction of GST marked a significant overhaul of the country’s indirect taxation system. GST aimed to streamline tax administration and foster a common national market by subsuming various central and state taxes into a unified tax regime. While the energy sector anticipated benefits from this reform, the reality has been complex. The […]
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Instant Transfer
Lowest Rates
Credit on all transaction