E-commerce companies to deduct 1% TCS under GST from 1 October; 'unfair liability imposition' says trade body

E-commerce companies will from 1 October have to deduct 1 percent tax collected at source (TCS) before making payments to their suppliers. The Finance Ministry Thursday notified TCS at the rate of 0.50 percent of the net value of intra-state taxable supplies made through the e-commerce portals by other suppliers in the Central Tax law. States too would follow suit and notify levy of 0.50 percent S…