Ayush Sharma asked 5 years ago
Claim of TCS under GST and accumulated ITC
Dear Sir/mam,
My client is doing E-commerce Business (Trading) on various platforms like Amazon, Flipkart, etc and they Charge Commission with GST @ 18% and Also TCS on which we get ITC and TCS credit on GST portal but he charge GST on Outward supply @ 12%. Now, on the portal, a big amount of ITC Accumulated. How to Claim this Amount of TCS and GST. As per GST only manufacturer and Exporter Can apply for Claiming refund. what is the treatment of this accumulated ITC?
1 Answers
ConsultEase Administrator answered 5 years ago
Your ITC is required to be accepted by you. Once you do that it will be the part of your cash ledger. Then you can use it for the payment of outward tax liability.
