If both section tcs and tds u/s 206h and 194q are applicable, can we still charge tcs on sale as a seller, instead of asking the buyer to deduct tds on the same ?
As per the recent Circular No. 13 of 2021 dated 30 Jun 2021, it is clarified in para 4.9.5 (v) that , if for any reason TCS has been collected on the invoice by the seller, then TDS need not be deducted again by the buyer for the same transaction.
Considering the operational convenience, as a seller whose turnover exceeds 10cr, can we continue to charge additionally TCS at 0.10% in all our sales invoices.
Buyer can take credit of the TCS charged as usual.
please clarify
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Tcs over tds
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As per the circular, this should be fine. But not sure whether this relaxation to be applied on a one-off transaction or whether it can be applied in general. Moreover, assessees cannot take protection based on circulars.
Since the primary onus is on the buyer, I think going for 194q would be a better option.
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