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TCS ON PURCHASES
I want to know under head of TCS on purchase ? I see TCS on purchase in duty and taxes or current assets.
Replies (2)
It would depend on whether TCS is a credit/debit for you. If TCS is a payable, to be grouped under Duties & Taxes and if receivable, under Current Assets
when tcs on purchase will be receivable?
Please give some example
Thanks
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