A person has received advance of Rs.3 crores from one creditor for supply of stock duly during 2019- 20.
Stock supplied on 01-03-2021.
Is 206c(1H) applicable.
Please do advise.
Menu
206C(1H)
Replies (3)
If payment has been received during fy19-20, tcs is not applicable on such transactions.
206C(1H) was applicable from 01.10.2020. So if payment has been received before 30.09.2020 then no TCS will be applicable.
Payment from -Creditor.
I Think -Debtor.
It's applicable for advance receipts also.
But you check the eligibility of 10 Crore and 50 Lakhs Turnover as well.
I Think -Debtor.
It's applicable for advance receipts also.
But you check the eligibility of 10 Crore and 50 Lakhs Turnover as well.
Recent Topic
- GTA Annexure V Non Compliance
- Calculation of Demand due to interest u/s 220(2)
- Legal profession business code in section 44ADA
- Whether Indexed Capital Loss Can Be Claimed Under
- Form 145 and 146 Foreign Remittance in Excel Forma
- E invoice missed out/not generated for FY2025-26
- Can a broker's software legally override actual po
- Startup exit in Sept 2025: Can I still save LTCG t
- Need advice
- GST registration
Related Topics
CAclubindia
