RAMESH D MODI
(Proprietor)
(4869 Points)
Replied 25 July 2017
Karan Batra
(Creator: TheProTalks)
(2325 Points)
Replied 25 July 2017
For TCS provisions, it doesn't matter what business you do as lomg as they are on an E-commerce platform, All busimesses are covered and hence sale of scrap is also one of them, Have a look at the following:
TCS compliance for e-commerce sector
A clause has been inserted under GST law for all the e-commerce aggregators. E-commerce aggregators are made responsible under the GST law for deducting and depositing tax at the rate of 1% from each of the transaction. Any dealers/traders selling goods/services online would get the payment after deduction of 2% tax. It is a significant change which would increase a lot of compliance and administration cost for online aggregators like Flipkart, snapdeal, amazon etc. They would need to deposit the tax deducted by the 10th day of the next month.
Sandeep Upadhyay
(1518 Points)
Replied 25 July 2017
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
CAclubindia
