What is TCS under GST
TCS is an acronym for Tax Collected at Source. In the context of GST regulations, all e-commerce operators are required to collect 0.5% under the CGST Act and 0.5% under the SGST Act. If the transaction is between states, the e-commerce operator must collect 1% (under IGST Act) of the net value of taxable supplies facilitated by them.
Registration requirements under TCS provisions of GST
E-commerce operators who are liable to collect TCS must register under GST, regardless of their turnover, and there is no exemption based on the threshold limit. Additionally, sellers who supply goods through e-commerce platforms are also required to register under GST, except for a few exceptions.
- Each and every e-commerce business that is obligated to collect TCS must register for GST.
- Every supplier who engages in e-commerce, with the exception of those who make supplies that are subject to notification under section 9(5) of the CGST Act.
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