What is TCS 1%?

490 views
User Avatar

ADVOCATE & LEAGAL CONSULATANT
47 Points Posted on 08 July 2020

What is TCS 1%?

 

How to claim a rebate in Hotel Industry for TCS. The Online portals like GOIBBIO, MMT deduct 1% TCS in their booking to hotel rooms .....What is the process of claiming back that refund for a HOTEL 

0 Reply Share Follow
On 08 July 2020 at 16:05 Report
Replies (3)
Quick Summary
This discussion explains the 1% Tax Collected at Source (TCS) deducted by online travel portals in the hotel industry. It provides guidance on how hoteliers can claim this TCS rebate. The process involves filing the TCS return online via the GST portal and utilising the amount shown in your GSTR2A and cash ledger to offset your GST liability.

User Avatar

Practice
3235 Points Posted on 08 July 2020
File tcs return online for the month deposited by online portal available at GST Portal in return after logging with your credentials
1 Reply
On 08 July 2020 at 20:07
User Avatar

ADVOCATE & LEAGAL CONSULATANT
47 Points Posted on 09 July 2020

Kindly explain how to claim the TCS which is now reflecting in GSTR2A......what is the process ...TIA

Reply
On 09 July 2020 at 12:50
User Avatar

78 Points Posted on 10 July 2020
TDS and TCS are show in cash ledger so you can directly pay your GST liability therefrom
Reply
On 10 July 2020 at 11:17

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Question for members: how do you manage client doc
  2. Clarification Required on Invoicing and Receipt of
  3. SEBI Registered VS NSDL Registered RTA
  4. Income tax or capital gain tax for Resident Indivi
  5. PCIT-1 Thane Email address
  6. CA Fees deduction for non audit case allowed?
  7. 5th Letter PAN Mismatch with Surname issues still
  8. Criteria to hire an article
  9. Guidence requested for a Finance Professional with
  10. Expert Opinion Required – Form 140 Gross Amo

More recent discussions | Post

Related Topics :

Loading