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Relief for e-comm companies, GST Council caps TCS at 1%
In what would have come as a relief to e-commerce marketplaces such as Amazon and Flipkart, the proposed tax collected at source (TCS) on them under the goods and services tax (GST) is to be capped at 1 per cent, the GST Council has decided. The draft law had proposed a levy of 1 per cent without any limit. Mentioning the cap in the law will ensure the levy remains below that level.
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