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State the functions of National Anti-Profiteering Authority.

The National Anti-Profiteering Authority is responsible for determining whether or not the input tax credit or the reduction in tax rate have actually led to a proportionate decrease in the price of goods and services, or both. The NAA can …

The statutory provisions of Anti-profiteering will kick in for what kind of instances?

Section 171 (CGST Act, 2017) and the identical provision under State/ UT GST Act will be attracted in a variety of situations: i. reductions in tax rates; ii. The registered person/supplier can take advantage of the Input Tax Credits (ITC).

For Anti - profiteering law, Is there any sunset clause?

Yes. In terms the CGST Rules, 2017, Rule 137, Authority of the Anti -profiteering shall cease to continue after the completion of 2 years from the date through which the Chairman Authority enters his office unless recommended by the GST …

State the statutory provisions of Anti - profiteering in GST law.

Section 171 of the 2017 CGST Act provides that any reduction of the tax rate on supply of goods and services, or the benefit from input tax credit, shall be passed to the recipient in the form of a commensurate …

On Anti-profiteering GST law, what should be the background for providing statutary provisions?

In the Study Report 'Implementation of VAT in India-Lessons for Transition to GST', released by the Comptroller & Auditor General of India (C&AG), June 2010, there were several instances of dealers profiting from the reduction in tax rates. After reviewing …

Define profiteering.

Section 171 (CGST Act) 2017 states that suppliers of goods or services must pass on any reduction in tax rate to recipients through a commensurate decrease in prices. Profiteering is the deliberate act of not passing the benefits in the …

Some e-commerce companies that were unable to register in October 2018 but who had already received TCS for October 2018, have raised concerns about the filing of details in GTSR-8. This question has been raised to determine how these details will be subm

If an e-commerce operator has not been registered in October 2018, but has already received TCS for that month, they may provide the details in the first return of FORM GTSR-8. This will be filed following registration.

Under this act are there any other power given to tax officer?

Section 52(12), 2017 CGST Act. Any authority who is above the rank of Deputy Commissioner can serve a notice asking an operator to submit details about their supplies of goods, services or both within 15 days from the date of …

Multiple ecommerce models allow customers to book a hotel via ECO-1, which is then integrated with ECO-2, who has an agreement with the hotelier. In such a case, ECO-1 won't have any GST information from the hotelier. In such cases, which ecommerce operat

TCS will be collected by the e-Commerce operator which will do payment to the supplier for that supply. In this instance, it will be ECO-2.

What is the supply location for the ecommerce operator to recharge the talk time of Telecom Operator/recharge of DTH/in relation to the convenience fee that customers pay for booking air tickets or rail through its online platform?

According to the section 12(11) of the IGST Act, 2017, the address in record of the customer with the supplier of services is the location of supply.

Does the e-commerce company have to provide a statement if yes , what details must be included in the statement?

Every operator must electronically file a statement detailing the outward supplies of goods and services made through it. This includes the returns of goods and services. It also contains the TCS amount it collected during the month in FORM STR-8. …

How can TCS be credited in the cash ledger? Is it permissible to refund such TCS credit in the cash ledger in accordance with section 54(1) of 2017's CGST Act?

TCS collected must be deposited separately by the ecommerce operator under the respectvive Tax head (i.e. TCS collected is to be deposited by the ecommerce operator separately under the respectvive tax head (i.e.,. The statement (FORM GSTR-8) filed by the …

How a person can claim on credit of TCS ?

The operator will deposit the TCS amount with the appropriate Government. This electronic cash ledger will reflect the amount of TCS collected from the actual supplier. It is based on the statement filed in FORM GSTR-8 by the operator under …

Is there a time limit within which this TCS (Tax Collection at source ) must be transferred by the ecommerce operator to Government account?

Within 10 days of the month ending in which the amount was collected, the operator must pay the appropriate government the amount.

TCS is collected by an ecommerce operator at the net of returns under Section 52. Sometimes, sales return exceeds sales. Therefore, negative amounts can be reported?

It is not possible to declare a negative amount. The next tax period will not be affected. This means that if the returns exceed the supplies during any tax period, it will be ignored in the current and future tax …

Customers of ecommerce businesses often return their goods which is normal . What will happen to these sales returns?

A company that e-commerce uses is only required to collect taxes on the net amount of taxable supplies it makes. The supply return (or value) of supplies may be adjusted to reflect the total value of all taxable supplies received …

TCS payment through Input tax credit of the operator to deposit TCS. No. TCS payment through Input tax credit of an e-commerce operator is not permitted. Is page 7 of 11 allowed under Section 52 (3) of 2017 CGST Act?

No ,TCS payment is not permitted through Input Tax Credit of e-Commerce operators

Is there an exemption for Gold if the rate of GST on Gold is only 3%. TCS on it would reduce the seller's margin ?

No, these exemption is not allowed by TCS .

Is the TCS collected for import of services or goods?

TCS will not collect any taxes that the recipient has to pay on a reverse charge basis. TCS would not be able to collect on imports of goods, as they would fall under the authority of the Customs Act 1962. …

Is TCS to be collected on supplies issued by the taxpayer composition?

As per section 10(2)(d) of the CGST Act, 2017, a composition taxpayer cannot make supplies through e-commerce operator. Thus, question of collecting TCS in respect of supplies made by the composition taxpayer does not arise.

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