India drops e-Commerce withholding GST
- 28 June 2017 | Richard Asquith
India has postponed a 1% Goods and Services Tax (GST) withholding tax on sales of goods and services on e-Commerce marketplaces. The tax, Tax Collected at Source (TCS), was planned to be introduced with the 1 July 2017 launch of GST, which is replacing a range of overlapping indirect taxes.
The Delhi government had planned to require marketplaces such as Flipart, Amazon, and Snapdeal to hold back 1% TCS of the sales price from vendors using their sites.
e-Commerce registration threshold
It also was set to oblige all e-retailers to GST register, which had led to the marketplaces raising concern about businesses withdrawing from the market. The government has now delayed this requirement, too. The registration threshold has been set at Rs 20 lakh.
India has extended by 5 days the deadline for the filing of September's Goods and Services Tax return. The new filing deadline for the GSTR-3B...
India has confirmed the GST withholding rates for online marketplaces handling third party transactions. Tax Collected at Source (TCS) is a means of collecting income tax...
India has announced an extended deadline for the GSTR-1 return which lists taxable sales for each reporting period. It is generally due by the 10thof...