Aspects like handling Freight, TCS, and Discounts in E-invoicing can be a concern for many. Especially now, that the e-invoicing turnover limit has been reduced to small businesses.
Application for Registration for TCS collector is to be filed in REG-07. Registration certificate to be issued in REG-06.
An E-commerce operator liable to collect tax, he is required to be registered under GST, mandatorily.
GSTR 2X return is filed by taxpayers who want to claim TDS and TCS credit. Here taxpayer will get auto-population of data from his counterparty who files GSTR 7 and GSTR 8. Read more about due date!
The TCS (Tax Collected at Source) collector is required to file a TCS return in form GSTR-8 within 10 days after the end of the given month.
Filing Returns for Sept 2018.| Understanding GSTR9 | Reconciliation for ITC | Updates in Eway Bill and GST.
The provisions related to tax deducted at source, tax collected at source and reverse charge mechanism under GST have been deferred for another three months till Sept 30, 2018.
