IF BUSINESS TURNOVER PREVIOUS YEAR IS 5CR BUT CURRENT YEAR WE AXPECTED ABOVE 10CR WE CAN COLLECT TCS
6 Replies
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 18 May 2021
No the TCS not applicable.
In term of Section 206C(1H) , TCS Applicable If Seller of goods having turnover exceeding Rs. 10 crore
in PREVIOUS FINANCIAL year.
So you are eligible to deduct it from FY 2022-23
In term of Section 206C(1H) , TCS Applicable If Seller of goods having turnover exceeding Rs. 10 crore
in PREVIOUS FINANCIAL year.
So you are eligible to deduct it from FY 2022-23
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 18 May 2021
No TCS provisions are applicable in your case
Deepak Kumar
(791 Points)
Replied 19 May 2021
I think YES Tcs is aplicable. a person having turnover/total sales from business exceeding Rs.10 Crores during the financial year (FY) preceding the FY in which goods are sold
Siddharth Kishan Mane
(Tax Consultant)
(283 Points)
Replied 09 July 2021
When the Seller should collect TCS ?
When the Sales is more that 50 Lakhs with a particular Buyer or Total Sales is more than 50 Lakhs? Pl guide.
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