Tcs
This query is : Resolved
19 May 2016
Hello SIr,
If my amount of goods sold is Rs. 180000 and VAT charged on it of Rs. 21000 i.e. Invoice amount Rs. 201000/- and collected Rs. 1000 in cash then whether liability to collect TCS arises and if yes on what amount; please qote answer with section.
Thanks
If my amount of goods sold is Rs. 180000 and VAT charged on it of Rs. 21000 i.e. Invoice amount Rs. 201000/- and collected Rs. 1000 in cash then whether liability to collect TCS arises and if yes on what amount; please qote answer with section.
Thanks
Rupesh Jain
(Expert)
19 May 2016
you are sell the scrap or for detail item you can see below
www.incometaxindia.gov.in/_layouts/15/dit/pages/viewer.aspx?grp=act...
and collect the TCs on invoice value= basic+ excise duty+VAt= amount X tcs rate as per act
www.incometaxindia.gov.in/_layouts/15/dit/pages/viewer.aspx?grp=act...
and collect the TCs on invoice value= basic+ excise duty+VAt= amount X tcs rate as per act
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