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TCS / TDS @ 0.01%

This query is : Resolved 
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(Querist)
03 February 2022 SIR / MAM

As per new rule, TDS / TCS is applicable on the value of Purchase / Sales exceeds 50 Lakhs if turnover crosses 10 crores.

My doubt is
Once Paid / Collected in a year, should it be continued to next years also even the turnover less than 10 crores ?
Or
It is applicable only in the year in which the turnover exceeds 10 crores ?

And,
Is it right to charge TCS on Invoice by the Seller ?

Plz guide me
Thanks in adv
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
03 February 2022 1. No. TCS/TDS applicable, only if turnover exceeds 10 Cr in immediate preceding FY.
2. Yes, if applicable.
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