Section 206c

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whether seller deduct tcs in follwing situation goods sold on 25 may 2016 and cash payment received on 6.6.2016 .
Replies (1)

Helllo

Based on the reading of the provisions, it is inferred that, no liability arises to collect TCS; as event arises (Sale of Goods/Provision of Service) already before applicability of law, no need to collect tax at source along with amount received for sale consideration during the period, law became effective .


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