ETDS return of 27EQ4

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Deputy Manager-Taxation
47 Points Posted on 14 August 2021
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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On 14 August 2021 at 12:13 Report
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Quick Summary
A user is facing a demand notice from CPC for their ETDS return (27EQ) concerning an invoice raised in March 2021. Although TCS was charged at 0.075% and paid in July 2021, the customer paid the invoice in June 2021. The issue appears to be a discrepancy in the TCS rate applied, as TCS is applicable on receipts, and the rate should have been 0.1% for payments received in June 2021.

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CMA
13117 Points Posted on 14 August 2021
TCS is applicable on receipts and hence if received in June, 0.1% would be the rate of tax.
1 Reply
On 14 August 2021 at 15:49
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Chartered Accountant
24588 Points Posted on 15 August 2021
TCS should be collected at 0.1%
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On 15 August 2021 at 06:08
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Deputy Manager-Taxation
47 Points Posted on 27 October 2021
We have raised the invoice by charging 0.75% tcs ,so the same amount will be paid by the customer
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On 27 October 2021 at 22:22

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