I am doning first transaction and sales material for the value of Rs.74 lac in Jan-2020, I had charged TCS on full value Rs.74 Lacs @0.075%. But debtors are ready to pay TCS on Rs.24 only (74 Lac-50 Lac). Now my query is that 50 Lac TCS Threashold Limit up to 31st September not an exemptions ?? please suggest.
24 April 2021
Note: TCS to be collected on [Total Sale Receipt (Minus) ₹ 50 Lakhs] See the link. https://taxguru.in/income-tax/tcs-sale-goods-income-tax-provisions.html