Tcs on sale of goods and services

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madhup (Querist)
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31 May 2016 Dear sir , one ambiguity is there in TCS on sale of goods and services. 1) 2 lakhs limit is monetary limit or sale/ service bill consideration limit. 2) is there any TCS applicability cash paid below 2 lakhs and sale / service consideration more than 2 lakhs. 3) can we paid up to 2 lakhs for more than 2 lakhs sale consideration. please clarify

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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01 June 2016 1 It is sale/service bill consideration limit.
2 TCS applicable as consideration more than 2 lacs. TCS applicable on any part of cash payment.
3 No, only bill value will be considered. Any part payment of cash attracts TCS when bill value exceeds 2 lacs.

Rupesh Jain

Rupesh Jain (Expert)
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01 June 2016 if your invoices more than 2 lacs and make the payment by cash any part then TCS will attract.

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