TCS U/S206C(1H)
This query is : Resolved
04 October 2020
Sir seek clarification and implementation of TCS on transcation as under :
We purchase raw material material from a party and Invoice back the same after adding our fixed conversion cost without actually receiving any payment ( except a very small amt receivable due to additional conversion fixed.cost). In this case where its like a barter system / job work ( but sales n purchases shown ) are we still liable TCS on the entire sales amount or only the conversion part for.which we actually receive the payment.. please advise..
We purchase raw material material from a party and Invoice back the same after adding our fixed conversion cost without actually receiving any payment ( except a very small amt receivable due to additional conversion fixed.cost). In this case where its like a barter system / job work ( but sales n purchases shown ) are we still liable TCS on the entire sales amount or only the conversion part for.which we actually receive the payment.. please advise..
04 October 2020
TCS applicable only on receipts in a financial year exceed 50 lacs.
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
- USE THE BANK ACCOUNT OF WIFE
- If ITC not claimed is there any issue
- Benefit of employee
- Place of supply or billing addres which applicable for tax
- Commission from nepal
- Deemed rent on house property
- CAPITAL GAIN IN NEW REGIM
- SALE OF RESIDENTIAL HOUSE PROPERTY PURCHASE AN AGRICULTURAL LAND
- 60 days significance in defining a resident
- TDS on payment to NRE account
- RCM relationship questions
- GST rate on monthly hiring of vehicle for internal transport and outside factory transport
- LTCG IN SHARES
- How to generate e-way bill for goods already delivered??
- How to Download notice of Bonus/split/Merger or demerger or Right issue
- Ca final reregistration after a break
- RCM PAID BUT NOT DISCLOSED IN GSTR 3B - RELATED JEDGEMENTS
- Letter Format for Jurisdiction change
- The recent CBIC clarification via Circular No. 231/25/2024-GST dated 10.09.2024 itc Allowed demo car
- CSC centre individual bank transaction limit
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert04 February 2025
CAclubindia
