banner_ad

TCS on Sale of Goods wef 01-10-2020

This query is : Resolved 
Profile Image

Profile Image

(Querist)
14 June 2021 Kindly clarify the following:

Case 1. Sales consideration received from 01-04-2020 to 30-09-2020 : INR 1 Crores
Sales consideration received from 01-10-2020 to 31-03-2021 : Nil
Amount of TCS?

Case 2. Sales consideration received from 01-04-2020 to 30-09-2020 : INR 45 Lakhs
Sales consideration received from 01-10-2020 to 31-03-2021 : INR 1 Crores
Amount of TCS?

Is it advisable to take all the receipts from 01-04-20 to 31-03-2021 for calculating the threshold for section 206C(1H)?

Is it advisable to show TCS on invoice or issue a debit note whenever threshold limit crosses?
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
14 June 2021 Case 1 -- NIL

Case 2 -- 0.75% on 95 lakhs

YES

DEBIT NOTE.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details