john (MBA) (78 Points)
27 March 2017Sir,
Am working as an accountant in a jewellery, we had some advance booking promotion.If a customers is making advance payment above 2,00,000.00 and the customer is going to purchase ornaments after 01/04/2017, shall we collect TCS 1% from the customer above this 2 lakh limit.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177741 Points)
Replied 27 March 2017
john
(MBA)
(78 Points)
Replied 27 March 2017
Sir,
If a customer is paying cash for Rs-1 lakhs,advance bill agst cash Rs-50k and balance for gift voucher purchased agst cah Rs-51 k.Total bill amount Rs-2,01,000.00.Is TCS applicable?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177741 Points)
Replied 28 March 2017
For single bill of more than 2 lakhs per day, TCS will be applicable.
john
(MBA)
(78 Points)
Replied 28 March 2017
If the customer is purchasing more than 2,00,000.00 but agst two bills,then is it applicable.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177741 Points)
Replied 28 March 2017
Yes, because same person.
CAclubindia
