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Is correct way?

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(Querist)
07 January 2025 please reply
section 206 TCS
Assessable Value
GST on assessable value
TCS levy on Assessable Value
Invoice value

Section 194 Q TDS deduction
TDS deduction 194 q ( Total Invoice Value Less 50 Lakh and GST amount)
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
07 January 2025 The Central Board of Direct Taxes (CBDT) has clarified that TCS should be calculated on the sale consideration inclusive of GST. This means if a buyer pays ₹55 lakhs, which includes ₹10 lakhs as GST, TCS will apply to the entire ₹55 lakhs, not just the base amount.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
07 January 2025 Section 194 Q TDS deduction
TDS deduction 194 q ( Total Invoice Value Less 50 Lakh and GST amount)

Correct.
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