Zomato Accounting
This query is : Resolved
11 October 2021
If we are running a restaurant bussiness and we are also delivering food via zomato & swiggy then zomato and swiggy cut their commission with axes and send us money on weekly basis after deducting tds and tcs. For their commission they gave us a service fee invoice.
So the question is
Why they cut tds and tcs ?
Bcz we are not giving them in any service and invoice
So the question is
Why they cut tds and tcs ?
Bcz we are not giving them in any service and invoice
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11 October 2021
The Finance Act 2020 dictates every e-commerce operator to deduct 1 % TDS of the gross amount of sales of the e-commerce participant.
Tax Collected at Source (TCS) under GST means the tax collected by an e-commerce operator from the consideration received by it on behalf of the supplier of goods, or services who makes supplies through the operator’s online platform. TCS will be charged as a percentage on the net taxable supplies.The provision of TCS under GST is dealt under Section 52 of the CGST Act.
Tax Collected at Source (TCS) under GST means the tax collected by an e-commerce operator from the consideration received by it on behalf of the supplier of goods, or services who makes supplies through the operator’s online platform. TCS will be charged as a percentage on the net taxable supplies.The provision of TCS under GST is dealt under Section 52 of the CGST Act.
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