Today is an era of Internet , where one cannot survive without listing itself online.
But Do You Know
Mandatory Registration Under GST
If you want to list yourself online you need to get a GST Number ?
Yes Absolutely , its a mandatory under CGST Act 2017 , where in All the persons selling goods/services online would need to get registered under GST even if their turnover is less than 20/40 Lakhs .
TCS Under CGST Act 2017
Also the e-commerce operators would deduct TCS Under GST @ 1% of the total amount given by E-Commerce Operators to them for a period.
But what about TCS , whether its dead and gone?
No , the TCS credit can be availed in the montly return filed by Supplier.
TDS Under Income Tax Act 1961
Also one need to deduct TDS under Income Tax Act 1961 for the commision paid to such E-Commerce Operator as the case maybe.
So these are few major things to keep in mind before getting your Business online.
Happy Reading!
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