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Cash sales of Rs. 200,000.00

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(Querist)
28 June 2016 w.e.f 1.6.16 there is leavy of 1% tcs on cash sales of Rs. 2 lac. my que is tht this limit is bill vice or for particular year..? means can any dealer sale below Rs. 2,00,000 in single transation but exceeding the limit during particular year to a single buyer..?
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Amol S Joglekar

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Amol S Joglekar (Expert)
29 June 2016 it is per transaction......billwise
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Saket Jain

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Saket Jain (Expert)
29 June 2016 TCS is applicable if
1) Bill exceed Rs 5 lacs in case of jewellery or Rs 2 Lacs in other case.
2) Part or full amount received in cash.

This provision is applicable bill wise.

Regards
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