“Now there is absolute clarity that you don’t have to do TCS at least for this financial year. This is absolutely positive news because they (ecommerce companies) were already grappling with multiple compliance requirements for filing of returns. They will at least be able to smoothen their compliance for the regular transaction and ultimately when the systems are in place they will probably be better alignment with their vendor database."
Partner, Grant Thornton India LLP
This article appeared in Economic Times on 07th October, 2017.