News

Ecommerce companies to register for GST

Thursday 20 September 2018 00:25 CET | News

A government announcement in India has stated that ecommerce companies need to collect tax at source beginning October 1, 2018.

Foreign companies operating in the ecommerce space, such as Amazon, Google, Apple, need to register for goods and services tax (GST) in all states, in order to comply with the tax collected at source (TCS) rules. This provision applies to foreign players, as well to cater to Indian consumers.

Under the provisions, notified entities have to deduct up to 1% state GST and 1% central GST on intrastate supplies. The scope of this is to check tax evasion as TCS will leave a trail of transactions.

However, regarding the foreign ecommerce platforms, there will be no TCS liability if the seller is based outside India.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: ecommerce, GST, India, tax collected, sellers
Categories:
Countries: World





Industry Events