17 October 2021
One of our suppliers has added 0.10% TCS against the taxable value as follows
Taxable value Rs 1,00,000 ( Rupees One Lacs ) Add TCS @ 0.10% Rs 100 (Rupees One Hundred) Add IGST 0.10% Concessional Rate Rs 100 (Rupees One Hundred) ----------------------------------------------------------------------------------- Total Bill Value Rs 1,00,200 =================================================== Sales Turnover of the suppliers above Rs 50 lacs and therefore TDS shall have to be deducted @ 0.10% against taxable purchase value. TDS shall be paid by the customer after debiting supplier’s account by the TDS amount Who will pay TCS ? Supplier will recover from us TCS Supplier will pay TCS or Customer will pay TCS
CAclubindia
