i had received some money as advance against sale saomething approx 2cr, now i am making invoice for that sale so does tcs applicable on this sale?
in my view tcs is applicable on receipt of money and in this case money is recived before this provision came so no tcs will be applicable.
kindly suggest your views
For transactions occurring while Section 206C(1H) was in force, TCS was applicable on the receipt of advances for the sale of goods if you met the seller turnover and buyer receipt thresholds. However, since this provision was withdrawn effective April 1, 2025, it is no longer applicable to current transactions.
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