Tcs on sale of motor vehicles
This query is : Resolved
08 June 2016
Dear Sir , if customer sumbmit demand draft , banker cheque will submit to dealer for taking vehicle , is it TCS will applicable ( customer went bank and taken demand draft by exchanging cash ). what is the dealer liability by accepting demand drafts and banker cheques is it treated as cash consideration.
Rupesh Jain
(Expert)
08 June 2016
no tcs is applicable on cash but if value of vehicle exceed rs. 10 lacs then TCS will applicable.
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