TCS will be deducted on BASIC + GST + Freight ?
4 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 03 May 2021
TCS should be collected on gross invoice value
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 03 May 2021
52/2018 under CGST Act and 02/2018 under IGST Act. This means for an intra-state supply TCS at 1% will be collected, i.e 0.5 % under CGST and 0.5% under SGST. Similarly, for a transaction between the states, the TCS rate will be 1%, i.e under the IGST Act.
ayusmita
(Tax consultant)
(5885 Points)
Replied 03 May 2021
In your case yes upon those TCS will cut
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