Yes, TCS can be claimed as refund in bank account. What is TCS and TDS in GST? TDS and TCS under GST is an acronym fortax deduction at source and tax collection at source. ... TDS and TCS under GST came into effect from 1st October 2018. TDS refers to the tax which is deducted...
The GST in India is comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. GST will be imposed at every step in the production process, and a refund will be possible in the various production stages other than the final consumer. It will be collected ...