TCS & TDS applicability on Petrol pumps purchases
This query is : Resolved
05 May 2025
Namaste sir,
We are one of the petrolium dealer of BPCL company and maintaining petrol pump books .From 01-04-2025 how can we calculate tds or tcs on Bhrath petrolium pump transactions . We dont know how to calculate and file TDS or TCS. So, Kindly suggest us with your valuable reply.
We are one of the petrolium dealer of BPCL company and maintaining petrol pump books .From 01-04-2025 how can we calculate tds or tcs on Bhrath petrolium pump transactions . We dont know how to calculate and file TDS or TCS. So, Kindly suggest us with your valuable reply.
05 May 2025
Petrol pump dealer (buyer), must deduct TDS on purchases from BPCL if:
Your total purchases from BPCL in the financial year exceed ₹50 lakhs.
Your turnover in the preceding financial year was more than ₹10 crores.
0.1% of the purchase value exceeding ₹50 lakhs in a financial year.
Section 206C(1H) (TCS on Sale of Goods) is removed. Dealers like BPCL will no longer collect TCS on sales of petroleum products to petrol pumps.
Your total purchases from BPCL in the financial year exceed ₹50 lakhs.
Your turnover in the preceding financial year was more than ₹10 crores.
0.1% of the purchase value exceeding ₹50 lakhs in a financial year.
Section 206C(1H) (TCS on Sale of Goods) is removed. Dealers like BPCL will no longer collect TCS on sales of petroleum products to petrol pumps.
28 September 2025
Good luck.....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- TDS on Purchase of Immovable Property by NRI from NRI
- Regarding TDS Applicability For Director Remuneration
- FORM 26A APPLICABILITY
- When TDS on GST applied
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
