Amazon, Flipkart get breather as govt puts tax collected at source on hold

Amazon

Latest News – 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 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 (Read More)

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s