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TCS on Sale of goods u/s 206c(1H)

Others 212 views 4 replies
Dear Friends,
Anyone can assist me please;

We didn't made more than 50 Lakh sales to one buyer for all previous financial years.
Last is Turn Over is 5.5 Crores Including GST.
This Year also we will not sell greater than 50 lakh to one single buyer.
This year expected Turnover about 7 Crores.
We are fall under this section or not?
Replies (4)
No.................you do not
GM Pankaj Bhai. Let me know few reasons why we are not fall under this? As an Accountant want to know please.....

Dear Mohanraj J (Accountant )

TCS applicable to :

1. Seller whose turnover in preceding FY exceeds Rs. 10 crore.

2.When seller sold goods worth rs.50 lac to same buyer in FY

hence in your case the above condition do not satisfy

 

 

Thank u so much Pankaj Bhai


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