What is difference between taxpayer and tax Deductor?

Answer: Deductor is the person who deducts the tax at source on specified payment made by him. He is also required to report the details of tax deducted in a statement. While a GST practitioner is a person approved by the central or state government to perform activities on behalf of the taxpayer.

Who is a tax Deductor in GST?

Deductor means the person responsible for making the payment to vendor for the supplies obtained for. Under the GST regime, section 51 of the CGST Act, 2017 prescribes the authority and procedure for ‘Tax Deduction at Source’.

Who are considered taxpayers?

A taxpayer is a person or organization (such as a company) subject to pay a tax. Modern taxpayers may have an identification number, a reference number issued by a government to citizens or firms. The term “taxpayer” generally characterizes one who pays taxes.

When should e-commerce operator collect tax at source?

e-Commerce operators have to file GSTR-8 by 10th of the next month in which the tax was collected. This return will only be filed once the tax collected has been deposited to the respective credit of the government. For instance, the due date for GSTR-8 for March 2021 is on 10th April 2021.

What is tax Collector E Commerce in GST?

Answer: Electronic Commerce has been defined in Sec. 2(45) of the CGST Act, 2017 to mean any person who owns, operates or manages digital or electronic facility or platform for electronic commerce.

What is meant by Deductor?

A deductor is the person responsible for deducting tax. The person who receives the payment after the deduction of tax is called the deductee.

What is Tax Collector E Commerce in GST?

What are the duties of tax Deductor?

The concept of TDS was introduced with an aim to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct tax at source and remit the same into the account of the Central Government.

What is taxpayer and different types of taxpayers?

Taxpayers are categorized as below: Individuals. Hindu Undivided Family (HUF) Association of Persons(AOP)

What is the general purpose of a tax?

The main purpose of taxation is to provide revenues for the government.

What is tax collector e-commerce?

The Tax collected at source (TCS) acts as a mechanism, wherein, the e-commerce operator collects part of the tax operator when the supplier supplies the required goods or service through its portal.

What is e-commerce tax?

What is Ecommerce Sales Tax? Let’s start with the basics of ecommerce sales tax. Sales tax is a small percentage of a sale tacked on to that sale by an online retailer. Sales tax is a “consumption tax,” meaning that consumers only pay sales tax on taxable items they buy at retail.