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Tcs on jewellery purchase (Income Tax)

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( Author )
03 July 2012

Please clear the following scenerios of Jewellery Purchase for TCS issues:
1) Customer gives an Advance for the order Rs.300000 on earlier date and make the balance

payment of Rs.250000/- at the time of delivery.Would TCS applicable in that case?

2) What if the total bill amount is Rs.500000 including VAT @1% . Would TCS Applicable in that


3) If a customer Purchases a Jewellery of Rs.500000/-. Make Cash payment of Rs.480000 and the rest

amount is old gold adjusted.

4) If a customer comes with a old gold worth Rs.500000 and exchange it. Total value of gold is

adjusted against gold and the only amount of labour is charged and is paid as cash by the

customer. Is it valid ?

5) If a customer purchases Jewellery worth Rs. 400000/- today and again next day worth Rs,400000/-

Will TCS applicable in that case.

Please guide me...

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