The Government vide Finance Bill, 2020 had introduced Section 206C(1h) for levy of TCS on sale of goods subject to certain conditions with effect from 01 October 2020. Further, the Finance Bill had also introduced Section 194-O for levy of TDS on e-commerce operators, also effective from 01 October 2020. In respect thereto, the CBDT vide Circular No. 17 of 2020 dated 29 September 2020 has issued the following clarifications:
TCS Clarifications:
TDS Clarifications:
Disclaimer:
The information provided in this update is intended for informational purposes only and does not constitute legal opinion or advice. Readers are requested to seek formal legal advice prior to acting upon any of the information provided herein. This update is not intended to address the circumstances of any particular individual or corporate body. There can be no assurance that the judicial/ quasi judicial authorities may not take a position contrary to the views mentioned hereinrra quis.
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