We have raised an invoice on 25th March 2021 by charging TCS @ 0.075% .For this invoice customer paid in june 2021,so we have paid the TCS amount 5th July,2021 to the government account .But while filing the ETDS return in 27EQ1 of FY2021-22
CPC has issued the demand notice due to short collection of TCS.Can any one face the same issue
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ETDS return of 27EQ4
Replies (3)
TCS is applicable on receipts and hence if received in June, 0.1% would be the rate of tax.
TCS should be collected at 0.1%
We have raised the invoice by charging 0.75% tcs ,so the same amount will be paid by the customer
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