TCS under GST reg

This discussion explores whether Tax Collected at Source (TCS) paid under the CGST Act can be offset against output tax liabilities or adjusted against Income Tax liabilities. Experts clarify that TCS deducted under GST appears in your cash ledger and can be used to set off GST liabilities. Similarly, TCS deducted under the Income Tax Act can be offset against your Income Tax liabilities. The thread also touches upon GST return filing procedures for businesses exceeding turnover thresholds and individual customer receipts exceeding Rs 50 Lakhs.