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TCS on Sale of Goods wef 01-10-2020

This query is : Resolved 

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?


Case 1 -- NIL

Case 2 -- 0.75% on 95 lakhs

YES

DEBIT NOTE.



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