15 February 2021
is tcs payable by seller who raises sale invoice in feb 2021 but adjusts payment against old lender who lent back in sep 2019? i feel yes, because, a loan is squared off, means its a deemed receipt only. but tcs is on pure receipt so confused. dealer is having 20 crore turnover and customer/lender / sale invoice is over 2 crores.
CAclubindia
