As per new rule, TDS / TCS is applicable on the value of Purchase / Sales exceeds 50 Lakhs if turnover crosses 10 crores.
My doubt is Once Paid / Collected in a year, should it be continued to next years also even the turnover less than 10 crores ? Or It is applicable only in the year in which the turnover exceeds 10 crores ?
And, Is it right to charge TCS on Invoice by the Seller ?
CAclubindia
