Tax authorities unearth under-reporting of online sale of goods

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The indirect tax administration has detected under-reporting of online sales by several companies when their reported online sales were matched with tax collected at source (TCS) on these transactions furnished by e-commerce platforms like Amazon and Flipkart, the Financial Express reported on Tuesday.

The finding implies that the actual under-reporting of sales and the GST (goods and services tax) liability of many companies selling their wares through e-commerce portals may actually be higher considering these players also have off-line sales. An email sent by Mint to the Central Board of Indirect Taxes and Customs (CBIC), the central government’s indirect tax administration, remained unanswered at the time of publishing.

Read More at: https://www.livemint.com/news/india/tax-authorities-unearth-under-reporting-of-online-sale-of-goods-11575960957836.html

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