TCS Applicability

is there any TCS applicability on sale of any goods if turnover crossed 10 crore in previous FY...?
Replies (3)
Quick Summary
This discussion clarifies the applicability of Tax Collected at Source (TCS) on the sale of any goods. If a business's turnover exceeded ₹10 crore in the previous financial year, TCS provisions apply. Specifically, if sales to a single party reach ₹50 lakh or more, TCS at a rate of 0.075% is applicable from 1st October 2020 onwards.

Originally posted by : Dharmender kumar Jha
is there any TCS applicability on sale of any goods if turnover crossed 10 crore in previous FY...?

Dear Jha Ji

 

Kindly explain to us any goods meaning so that all reputed member can give right opinin

Dear,

"any goods" meaning is (Koi Bhi samaan ki bikri).

I think u got it... if not than revert me I 'll explain it to you in more detail
Yeah from 1st October 2020 it applies...if to a party you made sales of 50 lakhs and above then TCS @ .075 % should be deducted .(applies only when turnover cross 10 crore mark).

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