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We know that TCS is applicable on Certain Transactions as per Income Tax Act
Apart from this, TCS is applicable on amount collected by Ecommerce Companies in case of GST
This is called
TCS in GST
What is TCS?
TCS Means Tax Collected at Source
It is a tax which is to be collected on Certain Incomes
Suppose A makes Sale of 100000 to B on which TCS @ 1% is applicable
In this Case,
A will be collect 101000 from B (100000 Sales Amount+1000 TCS)
A will deposit 1000 TCS with Government
TDS TCS in GST will also be differed to 1 April 2018
