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Tcs

Maan Singh (Assistant Manager Accounts) (79 Points)

15 June 2016

Dear Experts,

We are trader of Glass & Window , I want to know about that is there TCS applicable on the sell of Glass and window

Please Help on the same.

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mukul jaiswal (Description ) (91 Points)
Replied 15 June 2016

TCS Rates in India:

Note that the interest charges for late payment of the TCS to the Government, for every month delayed is 1%.

Type of Goods	Tax %
Liquor of alcoholic nature, made for consumption by humans	1.00%
Timber wood when collected from a forest that has been leased	2.50%
Tendu Leaves	5.00%
Timber wood when not collected from a forest that has been leased, but any other mode	2.50%
A forest produce other than tendu leaves and timber	2.00%
Scrap	1.00%
Toll Plaza, Parking lot, Quarrying and Mining	2.00%
Minerals that include lignite or coal or iron ore	1.00%
Bullion that exceeds over Rs. 2 lakhs/ Jewelry that exceeds over Rs. 5 lakhs.	1.00%

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Senu Reddy (ca final) (291 Points)
Replied 15 June 2016

TCS Rates Nature of Goods

TCS Rate Alcoholic liqour for human consumption 1%

Tendu Leaves 5% Timber obtained under a Forest Lease 2.5%

Timber obtained by any mode other than Forest Lease 2.5%

Any other Forest produce not being forest timber or tendu leaves 2%

Scrap 1%

Parking Lot, Toll Plaza, Mining and Quarrying 2%

Minerals being Coal or Lignite or Iron ore (applicable from 1st July 2012) 1%

Bullion if consideration exceeds Rs. 2 Lakhs or jewellery, if consideration exceeds Rs. 5 Lakhs (and any amount is received in cash) (applicable from 1st July 2012) 1%

Sale of Cars (both new and old) if Sale is above Rs. 10 Lakhs (applicable from 1st June 2016) 1%

Providing any service (other than payments on which TDS has been deducted) exceeding Rs. 2 Lakhs 1%

Sale of any Goods in Cash exceeding Rs. 2 Lakhs 1%

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