Tcs form 26c

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Rakesh Sharma (Querist)
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30 September 2014 What is the penalty for non submission of Form No. 27C as TCS not collected as the buyer purchased the scrap for manufacturing not for trading.

Sir, I Also want to know the due date for submission of Form NO. 27C

waiting for expert reply.

Thanks

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 October 2014 Declaration furnished in form 27C under section 206C(1A) to be delivered to Chief Commissioner or Commissioner u/s 206C(1B) on or before the seventh day of the month next following the month in which declaration is furnished to the seller.

Penalty for failure to submit declaration in form no 27C in due time u/s 272A(2)(j) is Rs 100 for every day during which the faliure continues subject to maximum of amount of Tax Collected.

Rakesh Sharma

Rakesh Sharma (Querist)
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01 October 2014 Sir, who is liable to submit form no. 27C, buyer or seller.

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Rakesh Sharma

Rakesh Sharma (Querist)
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01 October 2014 We are seller & what is our liability in case of submission of Form No. 27C

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 October 2014 Seller is liable to submit the form 27C received from buyer.

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Rakesh Sharma