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