TCS U/S206C(1H)
This query is : Resolved
04 October 2020
Sir seek clarification and implementation of TCS on transcation as under :
We purchase raw material material from a party and Invoice back the same after adding our fixed conversion cost without actually receiving any payment ( except a very small amt receivable due to additional conversion fixed.cost). In this case where its like a barter system / job work ( but sales n purchases shown ) are we still liable TCS on the entire sales amount or only the conversion part for.which we actually receive the payment.. please advise..
We purchase raw material material from a party and Invoice back the same after adding our fixed conversion cost without actually receiving any payment ( except a very small amt receivable due to additional conversion fixed.cost). In this case where its like a barter system / job work ( but sales n purchases shown ) are we still liable TCS on the entire sales amount or only the conversion part for.which we actually receive the payment.. please advise..
04 October 2020
TCS applicable only on receipts in a financial year exceed 50 lacs.
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
- ITR-Capital Gain
- Gst on travel by air for business purposes
- CLOSING STOCK QUERY
- Loss of interest in PF transfer from EPFO to Trust
- Residential status of non resident
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- IT returns for fresh job holders
- Query regarding reporting of exempt foreign remuneration in ITR
- GST ISD Query on various AMCs
- Gst reverse charge mechanism to be claimed in the month of payment
- Itr processing refund
- U/S 194 T
- TDS refund Indemnity Bond
- ITC BENEFIT ON BROKRAGE PAID
- PF wage ceiling
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
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
