GST- Goods And Service Tax
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Central Board of Direct Taxes and customs (CIBIC) notified that every e-commerce company will collect 1% as Tax Collected at Source (TCS) on net value of inter state goods supplied from the suppliers. TCS at rate of 0.50% of the net value of intra-state taxable supplies made through the e commerce portals by suppliers in the central tax law. States too would follow the suit and notify levy of 0.50% SGST on intra state supplies. This will be in effect from 1st October 2018.
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