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What is Tax Collection at Source (TCS)?

QuestionsCategory: GSTWhat is Tax Collection at Source (TCS)?
Profile photo of EshSinghEshSingh Staff asked 9 months ago

What is Tax Collection at Source (TCS)?

1 Answers
Profile photo of DevanAgarwalDevanAgarwal Staff answered 9 months 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).