GST on TCS collected under Income Tax Act

By | January 11, 2018
(Last Updated On: January 11, 2018)

If we sell goods for Rs.200000 to a person and charge GST@ 5% . As per the provisions of income tax we will also charge TCS( Tax Collected at Source)  @ 1% .  Whether GST will be levied on 200000 +TCS @ 1% OR on Rs. 200000 only 

Value of taxable supply.

Section 15(2) of CGST Act :-

(2) The value of supply shall include

(aany taxes, duties, cesses, fees and charges levied under any law for the time being in force other thanthis Act [ CGST Act ], the State Goods and Services Tax Act, the Union Territory Goods and Services Tax Act and the Goods and Services Tax (Compensation to States) Act, if charged separately by the supplier;

Thus GST will be payable on Rs 200000 Plus TCS

 

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