Can we get TCS refund? 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 ...
ITC Reversal under GST In certain situations, the ITC claim can be reversed, for claiming ITC is satisfied. Reversal of ITC means the credit of inputs utilized earlier would now be added to the output tax liability, effectively nullifying the credit claimed earlier. Payment of interest may also...