Question 2.
\nIs it mandatory for e-commerce operator to obtain registration?
\nAnswer:<\/p>\n
- \n
- The benefit of threshold exemption is NOT available to e-commerce operators (who is liable for TCS)<\/li>\n
- Thus, such ECO’s would be liable to be registered irrespective of the value of supply made by them.<\/li>\n<\/ul>\n
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<\/p>\nQuestion 3.
\nExplain the provisions relating to collection of tax at source under Section 52 of CGST Act, 2017?
\nAnswer:
\nThe following are the provisions of collection of Tax at Source [SECTION 52]:<\/p>\nSection 52(1)
\nOperator to Collect Tax on Supplies made through it<\/p>\n- \n
- Notwithstanding anything to the contrary contained in this Act<\/li>\n
- Every electronic commerce (ECO) operator, not being an agent<\/li>\n
- shall collect an amount<\/li>\n
- calculated at such rate not exceeding 1% (2% in case of IGST)<\/li>\n
- as may be notified by the Government<\/li>\n
- on the recommendations of the Council,<\/li>\n
- of the NET value of taxable supplies made through it by other suppliers where the consideration with respect to such supplies is to be collected by the operator.<\/li>\n<\/ul>\n
Section 52(2)
\nOther Modes of Recovery not to be Affected
\nThe power to collect the amount specified in section 52(1) shall be without prejudice to any other mode of recovery from the operator.<\/p>\nSection 52(3)
\nTime Limit to Deposit Tax<\/p>\n- \n
- The amount collected under section 52(1)<\/li>\n
- shall be paid to the Government by the operator<\/li>\n
- within 10 days<\/li>\n
- after the end of the month in which such collection is made<\/li>\n
- in such manner as may be prescribed.<\/li>\n<\/ul>\n<\/p>\n
Section 52(4)
\nTime Limit to Furnish Statement<\/p>\n- \n
- Every operator who collects the amount specified in section 52(1)<\/li>\n
- shall furnish a statement, electronically, containing the details of outward supplies of goods or services or both effected through it, including the supplies of goods or services or both returned through it, and<\/li>\n
- the amount collected under section 52(1) during a month<\/li>\n
- in such form and manner as may be prescribed,<\/li>\n
- within 10 days after the end of such month.<\/li>\n<\/ul>\n
Section 52(5)
\nLast Date to Submit Annual Statement<\/p>\n- \n
- Every operator who collects the amount specified in 52(1)<\/li>\n
- shall furnish an annual statement, electronically<\/li>\n
- containing the details of outward supplies of goods or services or both effected through it, including the supplies of goods or services or both returned through it, and<\/li>\n
- the amount collected under the said sub-section during the financial year,<\/li>\n
- in such form and manner as may be prescribed,<\/li>\n
- before the 31st day of December following the end of such financial year.<\/li>\n<\/ul>\n
Section 52(7)
\nCredit of Tax in Electronic Cash Ledger<\/p>\n- \n
- The supplier who has supplied the goods or services or both through the operator<\/li>\n
- shall claim credit<\/li>\n
- in his electronic cash ledger<\/li>\n
- of the amount collected and reflected in the statement of the operator furnished under section 52(4)<\/li>\n
- in such manner as may be prescribed.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"
Electronic Commerce \u2013 CA Final IDT Study Material is designed strictly as per the latest syllabus and exam pattern. Electronic Commerce \u2013 CA Final IDT Study Material Question 1. ABC Ltd. a registered supplier of goods is affecting supplies through E-commerce Ltd. (an electronic commerce operator). It has made taxable supplies of goods amounting \u20b9 …<\/p>\n