Dear All,
As all of you know that F.M. introduced provision of 1% TCS on Sale of Goods in Cash above 200000 i have an query on that my query is on the liability of TCS Deduction. coz there are some industries in india which sale some more service/goods along with the higher invoice such like Motor Car Dealers sale insurance, warranty, accessories, etc. alongwith the sale of car. They Make one Invoice for car and others for other goods/services so i want to know that TCS Deduction should be on Car Invoice only or alongwith all services/goods
For Example : -
A purchase a car of Rs. 260546 and also purchase Car Inssurance Policy of Rs. 19641 Accessories 30500 now Dealer Deducted The TCS Amount on Rs. 260546 or (260546+19641+30500) = 310687.
CAclubindia
