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Tcs

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 August 2011 dear all

our company is in the business of restaurant having liquor licenses. the supplier of liquor collected TCS in the bill .

Pls let me know where we can claim this TCS ( in VAT/ Service Tax or Income Tax while filing the return)
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Preety Parik

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Preety Parik (Expert)
03 August 2011

TCS is akin to TDS provisions of Income Tax. Credit of TCS amount paid can be claimed from Income TAx liability. Ask for TCS certificate from the suppier.

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