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Regarding TCS

Rajiv (Senior Accounts Officer) (1548 Points)

04 May 2018

Experts we purchase scrape and vendor deduct tcs on that bill . We have also sale scrape to our customer and we deduct tcs on our customers bill . Sir when we will deposit tcs . Then can we adjust the tcs amount. Means suppose
Vendor deduct tcs 100
We deduct tcs on customer. 200
So when we will deposit TCS then can we adjust tcs amount ie 100₹???

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3 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (183197 Points)
Replied 04 May 2018

NO.

The amount can be adjusted only in your tax liability, while filing ITR.

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Rajiv (Senior Accounts Officer) (1548 Points)
Replied 04 May 2018

Sir

If bus service provider have less turnover than 20 lakh. But he have GST Registration . then sir he did not add GST on their bill. Sir will we deposit GST on his bill like rcm ????? WHILE HE IS NOT UNREGISTER

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (183197 Points)
Replied 04 May 2018

No. Its not under compulsory RCM. So, better to educate him for liability to charge GST (having registered under GST), and revise the bill/s with GST.