Sir
My Client has purchase Timber from Govt Timber Depot and Purchase value excluding tax is more than 1cr
Ther seller has added TCS @ 2.5% on bid amount in Invoice
whether additional surcharge will be applicable in case of purchase is more than 1 cr
Thank You
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TCS u/s 206C
Replies (1)
No.
Tax liability not exceeding 1 Cr. or even 50 lakhs.
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