A clause has been inserted under GST law for all the e-commerce aggregators. E- commerce aggregators are made responsible under the GST law for deducting and depositing tax at the rate of 1% from each of the transaction. Any dealers/traders selling goods/services online would get the payment after deduction of 1% tax. It is a significant change which would increase a lot of compliance and administration cost for online aggregators like Flipkart, snapdeal, amazon etc. They would need to deposit the tax deducted by the 10th day of the next month.
All the traders/dealers selling goods/services online would need to get registered under GST even if their turnover is less than 20 Lakhs for claiming the tax deducted by Ecommerce operators.
Online sellers like Amazon, Flipkart, Snapdeal etc would need to make certain changes in their online payment process and administration/finance department to incorporate the TCS rule inserted under GST.
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