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Regarding tcs
I have received above 50 lakh from a single party in previous years but my total sales is 9 crore. can I am liable to deduct tcs on sale of any goods.
Replies (3)
No you are not liable Mr. kundan, secondly TCS is not deducted it is collected
TCS u/s. 206(1H) will be attracted on amount received on sale of good, exceeds ₹ 50L on or after 1.10.2020. In your case TCS will not be applicable
Not liable to collect TCS...
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