Tcs /gst on advance received from customer

Dip Narayan (Deputy Manager) (767 Points)

29 October 2017  
We have received Rs 10 lakh as advance for sale of scrap. We have to collect TCS and GST against the said advance. Can anybody help me how to calculate TCS and GST against advance received from customer ? Rate of TCS is 1 % and GST rate /s 5%.