Become a Govt. Certified GST Practitioner in just 60 hrs. Register Now!

Query regarding section:206C (1H)

12 April 2021

if total sales till 30-3-2021 is 45lakh and the on 31-3-2021 sales of 6lakh has been done. So nowTCS will be collected on which amt?... full 6lakh or only 1lakh

Reply
Follow
Share

5 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24588 Points)
Replied 12 April 2021

TDS should be deducted when turnover exceeds 50 lakhs rupees. On full amount should be deducted

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

Mujeeb Doi (309 Points)
Replied 13 April 2021

As per section 206C(1H), TCS should be collected only on an amount exceeding 50 lakhs i.e. no tcs for first 50 lakhs

CMA Poornima Madhava (CMA) (13112 Points)
Replied 13 April 2021

Originally posted by : Jainam Shah
	if total sales till 30-3-2021 is 45lakh and the on 31-3-2021 sales of 6lakh has been done. So nowTCS will be collected on which amt?... full 6lakh or only 1lakh

Provisions of TCS u/s 206C(1H) are applicable only on receipts against sales (not sale value). If receipts from the client during the year exceed ₹50 lacs, tax to be collected at source.