Dear sir,
01. TCS charged sale of goods only or job work services also.
2.TCS collected from buyer @ 0.075℅, at the time of payment only pay the IGST or CGST & SGST also. (like Inter state & Intra state type).
please. give me your suggestion.
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TCS CHARGES -REG
Replies (6)
Quick Summary
Tcs is applicable only on sale of goods
TCS will be deducted during the month in which the supply is made. It will be deposited within 10 days from the end of the month of supply to the credit of the government. Payment of the tax collected will be made in the following manner :
a. IGST & CGST will be paid to the central government
b. SGST to respective state governments
TCS will be deducted during the month in which the supply is made. It will be deposited within 10 days from the end of the month of supply to the credit of the government. Payment of the tax collected will be made in the following manner :
a. IGST & CGST will be paid to the central government
b. SGST to respective state governments
What is the full form of TCS
Tax collected at sources
Dear Sir,
If we collect TCS , we need to pay only Under TCS- or is there any Other under TCS -IGST and TCS -CGST and SGST...Please confirm.
If you collect tcs then only tcs should be deposited to the credit of central government within 7th of the next month following the month of deduction
Rate of collecting TCS
The tax shall be collected by the seller of goods at the rate of 0.1 per cent of the sale consideration exceeding Rs 50 lakh if the buyer has furnished his PAN or Aadhaar. If buyer does not submit PAN or Aadhaar, then, the tax shall be collected at the rate of 1 per cent.
The tax shall be collected by the seller of goods at the rate of 0.1 per cent of the sale consideration exceeding Rs 50 lakh if the buyer has furnished his PAN or Aadhaar. If buyer does not submit PAN or Aadhaar, then, the tax shall be collected at the rate of 1 per cent.
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