Tcs 206C(1H)mentioned on the invoice but amount not yet collect i.e. sale on credit basis
when we need to pay tcs today only or not 7th nov
party ledger showes amount receivable including tcs.
thanks and regards
Guru
Replies (2)
Quick Summary
This discussion clarifies the payment of Tax Collected at Source (TCS) when it's included on a sales invoice for goods sold on credit. The consensus is that if TCS is charged on the invoice, it should generally be paid by the 7th of the following month, even if the payment for the sale itself hasn't been received yet. The party ledger will reflect the receivable amount including the TCS.