TCS & TDS applicability on Petrol pumps purchases
This query is : Resolved
Quick Summary
phanikumar kuricheti
(Querist)
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
- Reward for festival
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- ARCA LOGIN
- Closer of business and itc of capital goods
- Rectification under processing even after 6 months cpc portal
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Capital gain on commercial property and investment in residential property
- Import of Capital Machine
- TDS Return Statement Status
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
