Whether taxable value for the purposes of GST shall include TCS?

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According to Section 15(2) of CGST Act specifies that the value of supply shall include “any taxes, duties cesses, fees and charges levied under any law for the time being in force other than this Act, the SGST Act, the UTGST Act and the GST (Compensation to States) Act, if charged separately by the supplier.”

Central Board of Indirect Taxes & Customs has amended Circular No. 76/50/2018-GST dated Dec 31, 2018 to clarify that for the purpose of determination of value of supply under GST, Tax collected at source (TCS) under the provisions of the Income Tax Act, 1961 “would not be includible” as it is an interim levy not having the character of tax.

Answered on March 12, 2019.
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Gen GST