Dear Friends,
We were collect 1%TCS against selling of Lignite and same has been paid and filed for Q1 FY 21-22. Now, we received Defaults Notice against Short Deductions. In Justification Report they mentioned 2% TCS Rates as per Act. Anyone can help me in this regard.
Q4, we collected and paid 1% only and didn't receive defaults.
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Defaults for TCS Rate for Collection Code 206CH
Replies (2)
Rate of tcs is correct i.e 1%
No TCS rate will be 1%
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