What is E Comm tax?
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What is E Comm tax?
Under section 194-O, resident and nonresident e-commerce operators are required to withhold income tax at 1\% of the gross amount of sales of goods, or provision of services, or both, exceeding INR 500,000 by an Indian resident selling goods or providing services (including digital products) facilitated through a …
Which services are taxable under service tax?
1. Levy of service tax
| Sr.No | Service Category | Date of Introduction |
|---|---|---|
| 1 | Advertising | 01.11.1996 |
| 2 | Air Travel Agent | 01.07.1997 |
| 3 | Airport Services | 10.09.2004 |
| 4 | Architect | 16.10.1998 |
What is an example of service tax?
Service tax is a type of indirect Tax that you are liable to pay to the government once you. The consumer pays the service tax to the service provider while paying the bill (for example, your restaurant bill has a component of service tax). The government in turn collects the tax from the service providers.
Is GST compulsory for e-commerce?
Yes, registration under GST is mandatory for all e-commerce operators irrespective of the sales turnover. Hence, prior to commencing business as an ecommerce operator or within 30 days of commencing business, all ecommerce operators are required to be registered under GST.
Is TCS applicable on service bill?
This new provision of TCS is applicable on a receipt basis and not a sale. So, the seller of goods is required to collect TCS on advances received and later adjusted against the invoice. Thus, it is advisable to collect TCS on a receipt basis rather than at the time of issue of the invoice.
What is service tax discuss the basis of service tax in India?
Service Tax was a tax that was levied by the Central Government of India on the services provided by service providers. This indirect tax came into being under the Finance Act, 1994. It was set at 15\% for transactions that occurred on or after 01 June, 2016.
What are the types of service tax?
There are Four GST types namely Integrated Goods and Services Tax (IGST), State Goods and Services Tax (SGST), Central Goods and Services Tax (CGST), and Union Territory Goods and Services Tax (UTGST).
Can we sell on Flipkart without GST?
No, you can’t sell products without GST on Flipkart. You can sell online without GST only if you sell products which are exempted. You need to have GSTIN even if your turnover is less than Rs. So, it is mandatory to have GSTIN to sell on Flipkart.