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TCS on Alcohol liquor

04 December 2021

Hi
can any one provide applicability of TCS on alcohol liquor for human consumption under income tax act

To whom TCS applicable and not applicable

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10 Replies

Ashiwini Ballodia (Managing Partner at TAXounting) (8737 Points)
Replied 04 December 2021

As per me TCS on alcohol is applicable on all b2b sales, there is no threshold exemption
tcs rate will be 1%

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Y.R.Purushothama Reddy (CA) (38 Points)
Replied 04 December 2021

TCS under income tax is my query not under GST

TCS applicable to whom like manufacture company or whole sale or retail or consumer

Ashiwini Ballodia (Managing Partner at TAXounting) (8737 Points)
Replied 04 December 2021

Applicable for manufacture & wholesale. Not applicable for retail i.e personal consumption

Y.R.Purushothama Reddy (CA) (38 Points)
Replied 04 December 2021

TCs is collected upto shop level, if any individual buy any alcohol liquor it is exempted from collection of TCS right

have you any article for this

Thank you very much.

Ashiwini Ballodia (Managing Partner at TAXounting) (8737 Points)
Replied 04 December 2021

In retail shop no TCS has to be collected even if purchase by company because alcohol is purchase for personal purpose

if it is sold for further sales than %CS to be collected

For article for this kindly search in google

Thank You

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Y.R.Purushothama Reddy (CA) (38 Points)
Replied 04 December 2021

Thank you very much

1 Like

Ashiwini Ballodia (Managing Partner at TAXounting) (8737 Points)
Replied 04 December 2021

Most Welcome

sabyasachi mukherjee (27579 Points)
Replied 05 December 2021

TCS IS APPLICABLE IN THE FOLLOWING CASES:
1. where buyer of goods makes a payment of more than rs.50 lacs towards sale consideration.
2. TCS is to be collected only by the entities having turnover more than 10 crore.

Ashiwini Ballodia (Managing Partner at TAXounting) (8737 Points)
Replied 05 December 2021

Dear Sabyasachi Ji,

TCS on sales of goods is different as compared to tcs of sale of liquor

you are writing provision for tcs on sales of goods instead of TCS on liquor