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Tuesday , 26 September 2017
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Amazon, Flipkart get breather as govt puts tax collected at source on hold

 

The government has given relief to e-commerce majors such as Amazon, Flipkart and Snapdeal, putting on hold a provision to deduct a one per cent tax collected at source (TCS).

It also gave more time to small entities selling on an e-commerce marketplace to register with the Goods and Services Tax (GST) Network.

E-commerce entities welcomed the decision, saying it would ease the cash flow position of vendors but added that they wanted abolition of the one per cent TCS.

“The provisions of tax deducted at source and tax collected at source will be brought into force from a date which will be communicated later,” went an official statement. And, that those liable to collect at soruce were liable for registration but the liability to collect would arise from the date the respective sections were brought into force.

Section 52 of the Central GST Act and State GST Acts deal with tax collected at source and requires all e-commerce companies to do so if supply of goods or services on their platform is in excess of Rs 2.5 lakh.

 

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