TCS ON TIMBER SALE

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This discussion clarifies the correct basis for calculating Tax Collected at Source (TCS) on timber sales. The consensus is that TCS should be collected on the full invoice value, including basic sale price, freight, and GST, rather than just the sale value alone. This ensures compliance with regulations regarding amounts received or receivable.

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(Querist)
07 April 2020 Dear sir

TCS to be collected on sale value of Timber or Sale value+ GST or Sale vlaue+gst+freight (in case of supply to be made FOR).

In my opinion TCS to be charged on Sale Value only. Kindly clarify,

Thanks

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RAJA P M

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RAJA P M (Expert)
07 April 2020 No... TCS will be collect full value of invoice. TCS will be collect if invoice prepared as Basic + Freight + GST...
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CA Suresh Jain

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CA Suresh Jain (Expert)
11 April 2020 The TCS to be collected as %age of amount received or receivable and therefore it has to on Gross amount only.
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