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TCS (Tax Collected at Source)

This query is : Resolved 

22 January 2022 Hello Team,
I have one query that is TCS Applicable on Credit Notes while in related sales invoice TCS already collected and TCS return also filed..?

22 January 2022 TCS not applicable in such a case.

24 January 2022 Respected CA R Seetharaman sir, please clarify that If the original sales was on Sep 2021 effected, TCS collected and Q2 filed, then by Nov the same turn as Sales return. In this situation what we can do? This also happen in 194Q TDS. So the proper way of set back in TCS/TDS needed.

24 January 2022 Adjust the TDS/TCS in December quarter considering credit note.

24 January 2022 Yes sir, we are doing like vise. But when there is no next sale or purchases to the same party it will create problem. Only After when the same occurs, we will adjust it. That's the way we are practicing now sir. Thank you sir.

24 January 2022 You are welcome......



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