Diabytes
Tax Collected at Source News
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The GSTN portal has also started accepting registrations from new taxpayers from June 25 even as the process of migration of existing taxpayers is already on.
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Cash purchases of jewellery will attract 1 per cent TCS (tax collected at source) from?April 1 if the amount exceeds Rs 2 lakh, as against the current threshold of Rs 5 lakh.
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E-commerce business firms will have to deduct TCS (tax collected at source) while making payments to their suppliers.
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CBDT has issued a new circular clarifying that the Tax Collected at Source (TCS) levy will not be applicable when cash part of the payment for certain goods or services is less than Rs 2 lakh, even when the total payment is more than this amount.
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The Central Board of Direct Taxes (CBDT) has extended the due date of deposit of Tax Deducted at Source/Tax Collected at Source during the Month of September, by three days to October 10 from October 7.
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