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Amendment in the TCS Rate to be collected by Electronic Commerce Operator

Act: Central Goods and Services Tax Act, 2017

Notification No. 01/2024 – Integrated Tax

Notification No. 15/2024 – Central Tax

Notification No. 01/2024 – Union Territory Tax 

Notification Date: 10th July 2024

An electronic commerce operator is required to collect tax at source on the net value of the inter-state taxable supplies made through it by other suppliers wherein consideration with respect to such supplies is collected by the such electronic commerce operator.

 

In the said notification, the rate of TCS to be collected by such e-commerce operator has been reduced from 1% to 0.5%.

 

The said change in the rate of TCS is with effect from 10th July 2024. During the period of 1st July 2024 to 9th July 2024, old TCS rate of 1% would apply and revised rate of 0.5% would apply on all transactions happened from 10th July 2024 onwards.  

 

The said notification shall come into force w.e.f. date of publication in the official gazette.

Link to the circulars:

  1. Notification No. 01/2024 – Integrated Tax (Rate): https://taxinformation.cbic.gov.in/view-pdf/1010101/ENG/Notifications
  2. Notification No. 01/2024 – Union Territory Tax (Rate): https://taxinformation.cbic.gov.in/view-pdf/1010102/ENG/Notifications
  3. Notification No. 15/2024 – Central Tax (Rate): https://taxinformation.cbic.gov.in/view-pdf/1010100/ENG/Notifications

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