TCS on items

Dear friend, The exact term used in Section 206C(1) which speaks about TCS on various items, does not mention the word cost, instead uses the term 'at the time of debiting the amount payable by the buyer to the account of the buyeror at the time of receipt of such amount from the buyer'. Therefore, the VAT component which is definitely a part and parcel of the purchase amount has to be included in the calculation of TCS. Good bye! Cheers!!

According to me, TCS should be on the income of the Buyer and not on the Total Amount. No point in collecting Tax on Tax

Hi, Frnd Tcs is applicable on Cost + Sales Tax if any, we r using also we r the purchaser of scrap from M/s Northeren Railway Govt. of India Tcs collected by them on Cost + Sales Tax Student, ICWA

Thank you everyone for clearing my doubt.