Tcs on goods & services

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madhup (Querist)
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02 June 2016 Dear Sir , please explain the definition of sale of Goods and Services more than 2 lakhs on TCS 1% applicability . is motor vehicle car cover under the above sale of goods definition. my query is below 10 lakhs value of the motor vehicle TCS applicability.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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02 June 2016 Motor vehicle cover under the definition of sale of goods TCS applicable, if cash payment is involved and sale value less than 10 lacs but more than 2 lacs

Rupesh Jain

Rupesh Jain (Expert)
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02 June 2016 TCS opn motor vehicle will applicble if exceeds s. 10 lacs not related what mode of payment you make or received., but on sale and purchases of goods and services it consider exceeds Rs. 2 lacs in cash only.

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