The rate of TCS (Tax Collected at Source) under GST varies based on the category of goods or services.
As per the current GST provisions, the following are the rates of TCS applicable on different categories:
- TCS on goods: The rate of TCS applicable on the sale of goods by an e-commerce operator is 1% of the net value of taxable supplies made through their platform. This is applicable only if the seller is not registered under GST.
- TCS on services: The rate of TCS applicable on the provision of services by an e-commerce operator is 1% of the net value of taxable supplies made through their platform. This is applicable only if the service provider is not registered under GST.
It is important to note that the above rates are subject to change based on the notifications issued by the government from time to time.
