What is the TCS payment and filling section for TCS on sale of goods ? Is it 6CR?
TCS on sale of goods
Avinash Jeevan Dsouza (Assistant In Charge Accountant) (3292 Points)
04 December 2020
1 Replies
gameplaysNmore
(96 Points)
Replied 04 December 2020
First and foremost tcs is applicable only on transactions covered in goods. To be eligible to
collect tcs, the turnover during the last financial year should exceed Rs.20/-crore. Tcs to be collected from those buyers from whom the sale consideration to be received should exceed Rs.50 lakhs. TCS to be deducted on the amount exceeding sale consideration by Rs.50/- lakhs.
collect tcs, the turnover during the last financial year should exceed Rs.20/-crore. Tcs to be collected from those buyers from whom the sale consideration to be received should exceed Rs.50 lakhs. TCS to be deducted on the amount exceeding sale consideration by Rs.50/- lakhs.
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