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TCS - quarry
Sir, with regard to filing of eTCS returns for the 3rd quarter towards "TCS on sale of goods", in the Traces portal, there is no column provided for "Total value of sales", what we see as off now is " total value of purchase". Now my question is whether site is not updated, or do we have to go by reporting the amount under the colum" total value of purchase" that is provided for, kindly clarify.
Replies (1)
When filing Form 27EQ, you should report the total sales consideration received from the buyer in the column titled "Total value of purchase". This field is standard in the TRACES utility and is intended to capture the transaction value subject to TCS, regardless of the "purchase" label.
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