GST
Using TCS credit to pay CMP-08
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Facts
Yes. TCS collected by an e-commerce operator, once accepted, is credited to your electronic cash ledger and can be used to pay tax in CMP-08.
Provisions and law
- Sec 10(4), CGST Act 2017A composition taxpayer cannot collect tax from the buyer and cannot claim input tax credit.
- Rule 87, CGST Rules 2017Deposits in the electronic cash ledger are made through the PMT-06 challan.
Analysis
Check the TCS credit on the portal under TCS/TDS credit received, and accept it so it moves to the cash ledger. Match the TCS amount with the operator's statement. Then use it in CMP-08. Any balance can be used in later quarters or claimed as refund.
Conclusion
- Open TCS/TDS credit received on the portal.
- Accept the TCS entries.
- Check the cash ledger balance.
- Use it to pay CMP-08 tax.
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