Deduction of TCS u/s 206C(1H) w.e.f. 01-10-2020
This query is : Resolved
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01 September 2020
Respected Experts,
We are manufacturer and our turnover is around 250 Cr. and we are liable to collect Tax at
source u/s 206C(1H) w.e.f. 01-10-2020. But we are confused on what value we should collect
tax either on Taxable Value or Invoice Value (Included GST).
Kindly clear this query.
Regards,
Rakesh Sharma
We are manufacturer and our turnover is around 250 Cr. and we are liable to collect Tax at
source u/s 206C(1H) w.e.f. 01-10-2020. But we are confused on what value we should collect
tax either on Taxable Value or Invoice Value (Included GST).
Kindly clear this query.
Regards,
Rakesh Sharma
01 September 2020
One more point in this query is that should we collect tax by mentioning in Tax Invoice.
01 September 2020
TCS to be levied on invoice value including GST.
Inference - Vinod Rathore V UOI (2005) 278 ITR 122( MP).
Inference - Vinod Rathore V UOI (2005) 278 ITR 122( MP).
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