TCS on sale of Goods u/s 206c 1(h)

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This discussion clarifies that Tax Collected at Source (TCS) under Section 206C(1H) on the sale of goods has not been abolished. While the provision remains applicable, it is no longer in effect for transactions where Tax Deducted at Source (TDS) under Section 194Q applies, effective from 1st July 2021.

G. Parameshwar Rao

G. Parameshwar Rao (Querist)
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14 April 2021 Dear Experts,

Is TCS on sale of Good u/s 206c 1(h) has been abolished from 1st April-2021.

Please let me know.

Thanks & Regards,
Paramesh

Gokul Sharma

Gokul Sharma (Expert)
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14 April 2021 NO.........NOT ABOLISHED

CMA Poornima Madhava

CMA Poornima Madhava (Expert)
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14 April 2021 Provisions of TCS u/s 206C(1H) are applicable even now. However, w.e.f. 1st July 2021, wherever provisions of TDS u/s 194Q are applicable, TCS u/s 206C(1H) on such transactions would be not applicable.

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