Tcs on advance receipt against future sale
This query is : Resolved
15 February 2021
is tcs payable by seller who raises sale invoice in feb 2021 but adjusts payment against old lender who lent back in sep 2019?
i feel yes, because, a loan is squared off, means its a deemed receipt only. but tcs is on pure receipt so confused. dealer is having 20 crore turnover and customer/lender / sale invoice is over 2 crores.
i feel yes, because, a loan is squared off, means its a deemed receipt only. but tcs is on pure receipt so confused. dealer is having 20 crore turnover and customer/lender / sale invoice is over 2 crores.
15 February 2021
Yes, you are right TCS applicable as adjustment made now considered as receipt now.
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