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TCS Theasehold Limit 50Lac

This query is : Resolved 


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.

Thanks & Regards,
Rajesh Kumar

TCS shall be collected on Total Sale Value received less ₹ 50 lakh. TCS applicable on 24 lacs only.

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