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What is Tax Collection at Source (TCS)?

QuestionsCategory: GSTWhat is Tax Collection at Source (TCS)?
EshSingh Staff asked 1 year ago

What is Tax Collection at Source (TCS)?

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1 Answers
DevanAgarwal Staff answered 1 year ago

In terms of Section 43C(1) of the MGL, the e-commerce operator is required to collect (i.e. deduct) an amount out of the consideration paid or payable to the actual supplier of goods or services in respect of supplies of goods and / or services made through such operator. The amount so deducted/collected is called as Tax Collection at Source (TCS).

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