Sir,
we are selling scrap.At the time preparing invoice TCS is charge on basic amount of scrap or basic + GST amount.
please give your opinion
Menu
TCS On Scrap Sale
Replies (8)
TCS will be charged on full invoice value
TCS is only required to be charged on basic value
no tcs to be charged on GST amount
there can not be a tax on tax
no tcs to be charged on GST amount
there can not be a tax on tax
No , TCS will be charged on total value
Respeted Manoj patel sir,
if tds will be deducted on total value then there will be double taxation, first by way of GST and secondly on by way of TDS on GST.
so the tds shall be deducted only on basic value without GST
if tds will be deducted on total value then there will be double taxation, first by way of GST and secondly on by way of TDS on GST.
so the tds shall be deducted only on basic value without GST
dear Vaishali Madam are you sure
Respected Sir,
acc. to me i am sure coz if you collect tcs on gst amount then the same will be double taxation
one by way of GST and
secondly by way of TCS on GST
acc. to me i am sure coz if you collect tcs on gst amount then the same will be double taxation
one by way of GST and
secondly by way of TCS on GST
thanks for your suggestions.
but where it was written in act ,that tcs will not charged on gst component
Recent Topic
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
Related Topics
CAclubindia
