28 February 2012
I Have a question on TCS applicability. We are in the business of Blending & bottling of IMFL and exporting the same to other countries directly or through merchant exports. As per our Seniors, the TCS is applicable for Direct Export as well as Merchant/Deemed Exports. Whereas no merchant exporter is accepting TCS as they are claimed ZERO tax on goods exports to other countries from india. In laws, there is no clear sections found.
Hence, I request the CA club experts to clear our question please.