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बुधवार, अगस्त 09, 2017

GST can be cost-effective online travel ticket

Travel agents delivering online tickets and other services will have to make tax deduction of 1% on the source in the goods and services tax (GST) system. In such a situation, people may have to pay more on the travel ticket under GST regim.

The Central Board of Excise and Customs (CBEC) said that these agents have been classified as e-commerce operators. At the same time, the e-commerce operator has to collect 1% of the net value of the taxable supply through GST regime. This amount is called tax deduction (TCS) at source. This provision has been held up for a while. In this case, online travel agents will also have to deduct 1% TCS.

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