E-commerce cos to deduct 1 pc tax collected at source (TCS) under GST from Oct 1
On Thrusday, The Finance Ministry notified TCS at the rate of 0.50 per cent of the net value of intra-state taxable supplies made through the e-commerce portals by other suppliers in the Central Tax law.
TCS provision would increase compliance burden for e-commerce companies but help government in checking tax evasion. Image source: Reuters