Dear Expert
Mt quary related to TCS On scrap sales @ 1 % by virtue of 206C of I.T.Act/Rules made there under is as
i) whether TCS is to charged on basic value of sales only or inclusive of GST portion as may be applicable i.e. total invoice vlaue so far seller is concerned.
ii) if i have not charged TCS at prescribed rate on sales value at the time of issuing sale invoice but subsequently i have collected the same from party by way of raising debit note then how to show the same in GST returns i.e. GSTR-1 so far GST Act/rules is concerned.
Please reply as early as possible.
CAclubindia
