How is TCS calculated?

How is TCS calculated?

Elanic will deduct 1% TCS of a GST registered seller’s earning (commission and pick up charge excluded). For all orders from 22.07.2019 we will deduct 1% for all the orders and it will be visible in your wallet. The 1% deducted for TCS will be visible in your GST portal as input tax credits


For example:  


  • If a Seller sells a product of Rs. 1000/- on Elanic.

  • Buyer pays Rs. 1000/- to Elanic

  • Elanic while making payment to the seller deducts commission, pickup charges &  1% TCS of the remaining value (your earning).

  • ie. 1000 - 15% Commission (150) - Pickup* (60) =790

  • 790 - 1%(TCS)  = 790 -7.90 = 782.10.


*Pickup charges are subjected  vary depending on the product you are selling.


Elanic will transfer Rs.782.10 to your Elanic wallet and Rs.7.90 will reflect in your GST portal as input tax credits.

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