You know, recently TCS on sales proceeds provision is implemented under income tax law. My question is total invoice value to be shown in GSTR1. For example, Taxable 100000 Gst 18000 TCS 1000 Total 119000

Reply- As per circular No.76/50/2018 Dated: 31st December 2018, this issue has been clarified as follows—

Question— What is the correct valuation methodology for the ascertainment of GST on Tax collected at source (TCS) under the provisions of the Income Tax Act, 1961?

Reply- Section 15(2) of CGST Act specifies that the value of supply shall include “any taxes, duties cesses, fees and charges levied under any law for the time being in force other than this Act, the SGST Act, the UTGST Act, and the GST (Compensation to States) Act, if charged separately by the supplier.”

For the purpose of determination of the value of supply under GST, Tax collected at source (TCS) under the provisions of the Income Tax Act, 1961 would not be includible as it is an interim levy not having the character of tax.

TCS amount is not required to be shown in the tax invoice. Write a note in the invoice regarding payment of TCS along with payment of invoice. If you are showing it in the invoice then take the invoice value excluding the Tcs amount.

In the above case, while filing GSTR-1, the taxable value will be 1,00,000/- and tax amount will be 18,000/-