RR-21, S/F, Mianwali Nagar, Paschim Vihar, 110087 New Delhi IN
Shops Basket
RR-21, S/F, Mianwali Nagar, Paschim Vihar, New Delhi, IN
+911135100523 https://cdn1.storehippo.com/s/5ef1ebeeb1607ca5220c8063/5f2a5dc58c2b0f98d4286314/webp/logo_0508-480x480.png" sales@shopsbasket.com
Shopsbasket Diwali Celebration at Shopsbasket 5fae366ae43828f7209bcb88/diwali-clebration2.jpeg
shopsbasket Tax Deducted at Source (TDS) u/s 194-O 5f75b7847a4f657569fb3945/tds.jpeg
Shops Basket Shops Basket Stands with SMEs in India 5f3bada436a569cebaa01185/shops-basket-stands-with-smes-in-india.jpg
Shops Basket Shops Basket is continually evolving 5f3bad3a7b7ed3ceb883b026/shops-basket-is-continually-evolving.jpg
Shops Basket Shopping Online at the times of Covid-19 5f3bab338d0b1a91dc45c32a/shopping-online-at-the-times-of-covid-19.jpg
Shops Basket How to start selling on Shopsbasket 5f3baac28d0b1a91dc45ad2a/how-to-start-selling-on-shopsbasket.jpg
Shops Basket How Shops Basket Promotes Social Commerce 5f3baa351f01df918aadef93/how-shops-basket-promotes-social-commerce.jpg
Shops Basket How Shops Basket maintains reliability & efficiency on its e store 5f3ba89cef6841cefe0dbbd6/how-shops-basket-maintains-reliability-andamp_-efficiency-on-its-e-store.jpg
Shops Basket How Shops Basket Empowers Indigenous Product Sellers 5f3ba75c36a569ceba9ee905/how-shops-basket-empowers-indigenous-product-sellers.jpg
Shops Basket Customer First Policy of Shops-Basket 5f3ba6aa8d0b1a91dc44d7c9/customer-first-policy-of-shops-basket.jpg

Tax Deducted at Source (TDS) u/s 194-O

  • By shopsbasket
  • •  Oct 01, 2020

Hello Seller,

Please go through the following email carefully as the information contained herewith may affect your business on Shopsbasket.

This is with respect to the Statutory requirement for Tax Deducted at Source (TDS) u/s 194-O , which mandates e-commerce companies to deduct TDS on sale of goods and services through e-commerce marketplace. This requirement will come into effect from 1 Oct'2020. In view of this new requirement, Shopsbasket, in its capacity as an e-commerce operator, will be deducting TDS on the products and services sold by the sellers on its marketplace.

Please note that the rate of TDS applicable will be 0.75% ( of the base selling price) from October 1 2020 to 31 March 2021 and will be 1% ( of the base selling price) post 31st March 2021.

However, in cases wherein the PAN is unavailable or invalid, TDS at 5% will be applicable. We recommend you to recheck and verify the PAN you have submitted so as to avoid a higher tax rate on your sales.

The TDS will be applicable on the base selling price of the product, for example:

         

Product Base Selling Price

Rs.100

Applicable GST

Rs.18

Product Selling Price

Rs.118

TDS amount

0.75 X 100 = Rs.0.75


0 Comment


Leave a Comment