Now pay 5% tds for MERCHANT/SELLER on amazon/ub...

Now pay 5% tds for MERCHANT/SELLER on amazon/uber if account is non pan verified/non-aadhar and 1% in case of Pan/aadhar verified

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Now pay 5% tds for MERCHANT/SELLER on amazon/uber if account is non pan verified/non-aadhar and 1% in case of Pan/aadhar verified

Be ready , Now governement is using different route , to make online and offlien purchases cost same .It will be actually the end of online shopping era if that happens.

Source: https://www.business-standard.com/budget/articl...

20 Comments  |  
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stop misleading…
it’s an proposed enactment whereby all the merchants who sell on amazon website will receive their payout after deducting 1% tds

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chipi wrote:

stop misleading…
it’s an proposed enactment whereby all the merchants who sell on amazon website will receive their payout after deducting 1% tds

it is better if you say this same thing to this newspaper .As news is from there side.

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Irrelevant*

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chipi wrote:

stop misleading…
it’s an proposed enactment whereby all the merchants who sell on amazon website will receive their payout after deducting 1% tds

Source please?
and why is it ..just the amazon.in?

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getready wrote:

Source please?
and why is it ..just the amazon.in?

no it’s for all ecommerce operator’s…
i.e. all online shopping websites

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tarun456 wrote:

it is better if you say this same thing to this newspaper .As news is from there side.

brother, if we properly educate ourselves with full information…then this news websites even won’t get the footage to mis lead with this kind of statements

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chipi wrote:

brother, if we properly educate ourselves with full information…then this news websites even won’t get the footage to mis lead with this kind of statements

If this is about merchants selling on ecom alone
Why was there even a mention of PAN/AADHAAR verifications? Merchants are obviously PAN verified w/ GSTIN
I don’t get it. May be what you’re referring to a different thing and both these proposals co-exist?

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getready wrote:

If this is about merchants selling on ecom alone
Why was there even a mention of PAN/AADHAAR verifications? Merchants are obviously PAN verified w/ GSTIN
I don’t get it. May be what you’re referring to a different thing and both these proposals co-exist?

PAN an GSTIN are two separate things
PAN is to be provided to receive payout so that tds can be deducted and the assessee can claim the same via IT return.

Whereas GST is for selling goods and services so that tax included in goods or services can be properly delegated to the end consumer

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chipi wrote:

PAN an GSTIN are two separate things

They are separate but you need both in case you want to open your store on Amazon.in
Ref: https://services.amazon.in/resources/seller-blo...

Found another source for the same
https://www.outlookbusiness.com/perspective/bud...

Seems you are right partially, this applies to the reimbursement sellers get from ecom companies (But 1% tds deduction for Verified and 5% for Non-Verified)

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getready wrote:

They are separate but you need both in case you want to open your store on Amazon.in
Ref: https://services.amazon.in/resources/seller-blo...

Found another source for the same
https://www.outlookbusiness.com/perspective/bud...

Seems you are right partially, this applies to the reimbursement sellers get from ecom companies (But 1% for Verified and 5% for Non-Verified)

yes brother

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Title makes it appear as if customer has to pay tax. It is the usual TDS to be deducted from merchants payout. Even if tax is deducted merchant can file return and get it refunded if net tax payable is less than tax deducted.

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chipi wrote:

PAN an GSTIN are two separate things
PAN is to be provided to receive payout so that tds can be deducted and the assessee can claim the same via IT return.

Whereas GST is for selling goods and services so that tax included in goods or services can be properly delegated to the end consumer

Yes besides PAN is mandatory if you want a GSTIN. So either way merchant has both and just needs to give to ecommerce company.

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chipi wrote:

PAN an GSTIN are two separate things
PAN is to be provided to receive payout so that tds can be deducted and the assessee can claim the same via IT return.

Whereas GST is for selling goods and services so that tax included in goods or services can be properly delegated to the end consumer

GSTIN is generated based on PAN and PAN is part of the generated GSTIN. It is not possible to have GSTIN without PAN

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bs for business standard or bull shit rolleyes

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chipi wrote:

stop misleading…
it’s an proposed enactment whereby all the merchants who sell on amazon website will receive their payout after deducting 1% tds

Can you clearly mention how much tax buyers will pay if OP is misleading. You are no help either, only creating confusion…

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cocay wrote:

Can you clearly mention how much tax buyers will pay if OP is misleading. You are no help either, only creating confusion…

why would buyers pay tax?

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chipi wrote:

why would buyers pay tax?

Sorry, I misread that buyers will pay TDS

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cocay wrote:

Sorry, I misread that buyers will pay TDS

Actually buyer only will pay the TDS of 1% .I will tell you the reason .Getting TDS return is very long process and normal sellers can’t even wait for 4 days forget about waiting for 6-7 months which It dept usually takes to refund also they have to compulsory file return to get refund .So i will increase the cost by 1% or 5% depend on my status .So , it is easier to say but very tedious process

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tarun456 wrote:

Actually buyer only will pay the TDS of 1% .I will tell you the reason .Getting TDS return is very long process and normal sellers can’t even wait for 4 days forget about waiting for 6-7 months which It dept usually takes to refund also they have to compulsory file return to get refund .So i will increase the cost by 1% or 5% depend on my status .So , it is easier to say but very tedious process

It only affects those who can’t afford(aka normal sellers),for sellers like appario & cloudtail it is no issue.

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