TCS
This query is : Open
sankar ponnan
(Querist)
22 January 2021
SIR
Charging TCS in invoice is compulsory or enough to charge it in invoice to the parties whose value exceeds Rs.50 lac in a year ?
Plz guide me sir
thanks in adv
Charging TCS in invoice is compulsory or enough to charge it in invoice to the parties whose value exceeds Rs.50 lac in a year ?
Plz guide me sir
thanks in adv
CA Rashmi Gandhi
(Expert)
22 January 2021
First of all, as per Sec 206C(1H), TCS is to charged on receipt not in Invoice, so whenever you receive the amount you have to charge TCS on it.
So, it is very clear that it is not compulsory to charge TCS on Invoice.
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