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TDS u/s 194Q | DUAL TAXATION

This query is : Resolved 
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(Querist)
30 June 2021 X- is a supplier with turnover over Rs 10 Cr in previous year
Y- is a buyer with with turnover over Rs 10Cr in previous year.
X has collected TCS on Sales over 50 lac ( 10 Lac above 50 lac). Now as the game changes after 30.06.2021 and Y is liable to Deduct TDS on Purchases above 50 Lacs. Now What to do with the amount of 10 lac on which Supplier has already Collected TCS.
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CMA Poornima Madhava

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CMA Poornima Madhava (Expert)
30 June 2021 If TCS is applied on payments made before July 2021, TDS u/s 194Q is not applicable on the same transaction.
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