What is the TCS payment and filling section for TCS on sale of goods ? Is it 6CR?
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TCS on sale of goods
Replies (1)
First and foremost tcs is applicable only on transactions covered in goods. To be eligible to
collect tcs, the turnover during the last financial year should exceed Rs.20/-crore. Tcs to be collected from those buyers from whom the sale consideration to be received should exceed Rs.50 lakhs. TCS to be deducted on the amount exceeding sale consideration by Rs.50/- lakhs.
collect tcs, the turnover during the last financial year should exceed Rs.20/-crore. Tcs to be collected from those buyers from whom the sale consideration to be received should exceed Rs.50 lakhs. TCS to be deducted on the amount exceeding sale consideration by Rs.50/- lakhs.
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