17 September 2020
DEAR SIRS :: My client has crossed sales of Rs.ten crores for financial year 2019-2020 so they come under this category of TCS.... one debtor total sales as on 31-08-2020 including GST is Rs.54,07,529.00. I have to deduct and deposit TCS on 54,07,529.00 - 50,00,000.00 = 4,07,529.00 at 0.75 percent = Rs.3,056.47 "OR" there is an exemption that no TCS on sales made till 30-09-2020 and thereafter 0.75 percent . Secondly TCS to be calculated on NET sales amount or Sales + GST .....PLEASE CLARIFY.... Regards
CAclubindia
