How to Report TCS under Income Tax in GSTR1?

Lekhraj sood , Last updated: 16 November 2020 Share Follow on Google News

The TCS under Income Tax Act,1961 section 206C(1H) on sale of goods has been implemented from 1.10.2020 on receipt of payment exceeding Rs.50,00,000 from the buyer. However, aquestion is arising as to how this TCS in the Tax invoice should be reported in GSTR1 under GST. TCS was applicable earlie

Daily Limit Reached

You have reached your daily limit of 2 Free Articles

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?

No Ads
WhatsApp Broadcasts
Daily E-Newsletter
Unlimited Articles Access

BEST VALUE

2 YEAR PLAN

3,499

(Inclusive of GST)

1 YEAR PLAN

1,999

(Inclusive of GST)

Buy CCI PRO Now

Already a PRO member? Login here for an ad-free experience.

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

27354 Views 2 Likes Comment Share GST Report

About the Author

Lekhraj sood

Providing consultancy in the area of indirect taxation,GST,imprt/export/Finance and accounts,GST training and coaching, corporate practical experience of more than 30 years.

I am Chartered Accountant with plus 30 years experience in MNCs as CFO and head of various roles such taxation,Accounting,Costing,Finance Treasury,SAP. You can see my profile at https://www.linkedin.com/in/ca-lekh-sood-82039519/ .Having worked in Industry I have practical approach to problem solving and believes in ad ... Read more

View Articles