FAQ on E-Commerce Released by CBEC Today. Some Important Points

FAQ on E-Commerce Released by CBEC Today. Some Important Points :

► Threshold Exemption is not available neither to E-Commerce Operator nor to person supplying Goods/Services.

►Tax would be payable by actual supplier. (Exception is services notified u/s 9(5)).

►Tax (TCS) will be collected on Net value of Taxable Supplies. (Sales minus Sales Return).

►TCS would be considered in the month in which consideration is received from recipient e.g. delivery made on 29.07.17 but payment received on 02.08.17. Month for TCS would be August'17.

►TCS to be paid within 10 days from end of month.

►TCS will reflect in GSTR-2 and actual supplier can avail credit of the same. 

►Monthly Return GSTR-8 to File.

►Supply declared by E-Com Operator and Supplier in their return would be matched and any difference will be notified to both.

►E-Comm Cos storage area can be registered by multiple-suppliers as additional place of Business.

►Online Travel Agents to be treated E-Com Cos.

►Dealer have multiple locations may maintain different Invoice Series for each location.

►No TCS on Exempted Supply like Books.

►No TCS if selling through own website. (E-Com Portal).

►If Selling in own brand name after purchasing goods, No TCS. It is normal transaction.

►Thanks.

#GST