TCS on sales

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audit staff
1203 Points Posted on 06 April 2021
my client, collect TCS on sales, now question was TCS paid to govt on 7th of every month or TCS receipt of consideration?
sales bill raised 2nd Apr 2021 but pay6 due date was sep 2nd 2021, so TCS paid by 7th Oct 2021 or 7th May 2021?

pls clarify this sir?
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On 06 April 2021 at 16:30 Report
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Quick Summary
This discussion clarifies the crucial deadline for depositing Tax Collected at Source (TCS) on sales. The key takeaway is that TCS is due on the 7th of the month following the *receipt of consideration*, not the date the sales bill was raised. For example, if payment was received in September, TCS is due by 7th October. Similarly, TCS for March sales is due by 7th April.

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2742 Points Posted on 06 April 2021

TCS to be deposited upto 7th day of the next month in which it is collected. It's not depend on sale bill

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On 06 April 2021 at 17:42
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309 Points Posted on 06 April 2021
TCS provisions are triggered on collection of sales receipt and hence, in your case the due date for payment would be 7th October 2021
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On 06 April 2021 at 17:49
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2 Points Posted on 07 April 2021
For month of mar21 due date?
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On 07 April 2021 at 07:21
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CMA
13117 Points Posted on 07 April 2021

For the month of March 2021, due date for payment of TCS would be 7th April 2021 (today).

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On 07 April 2021 at 17:42

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