Whether the rate of tax of 1% specified in section 52 is CGST or SGST or a combination of both CGST and SGST

The rate of TCS as specified in CGST Act, 2017 is payable under CGST and the equal rate of TCS is expected under the SGST Act also in effect aggregating to 2%.

(ICAI FAQ PUBLICATIONS 06-09-2017 TAX PAYMENTS, INTEREST, PENALTIES AND OTHER AMOUNTS : FAQ NO. 58)

Leave a Reply

Your email address will not be published. Required fields are marked *