TCS refund to Government Entity
This query is : Resolved
15 May 2023
A State Government Entity i.e. Battalion on Special Armed Forces is running a petroleum outlet. The Hindustan Petroleum Corporation Ltd. (HPCL) has collected income tax (TCS) on sales made by it to Battalion petrol pump.
The petrol pump is owned by a Government Entity is not liable to income Tax and therefore not obliged to file return of income and pay tax on income.
Please advise how can it claim refund of TCS ?
The petrol pump is owned by a Government Entity is not liable to income Tax and therefore not obliged to file return of income and pay tax on income.
Please advise how can it claim refund of TCS ?
15 May 2023
No TDS/TCS applicable to government entities. Section 196 of income tax.
Ask HPCL to file revised TCS return and refund the TCS.
Ask HPCL to file revised TCS return and refund the TCS.
16 May 2023
THANKS. The HPCL collected Tax at source in the FY 2021-22 and 2022-23.
16 May 2023
TCS return can be revised for those years.
Excess paid TCS can be adjusted in the current year.
Excess paid TCS can be adjusted in the current year.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
CAclubindia
