TCS Regarding

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290 Points Posted on 01 October 2020
Good Evening,
Please Clarify About TCS On Taxable Amount Or On Total Invoice Amount
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On 01 October 2020 at 21:00 Report
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Quick Summary
This discussion seeks clarification on whether Tax Collected at Source (TCS) is calculated on the taxable amount or the total invoice value. The consensus leans towards TCS being applied to the total invoice amount, particularly when consideration is received. There's a suggestion that implementing TCS from 1st April 2021 would be more convenient for businesses, allowing the E-way bill to be issued for the total invoice, with TCS entered under a separate 'others' tab.

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MANAGER ACCOUNTS AND FINANCE
60 Points Posted on 01 October 2020
Total invoice value
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On 01 October 2020 at 22:06
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GST Practitioner
55067 Points Posted on 01 October 2020
Yes it's on invoice amount, but Applicable when consideration is received
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On 01 October 2020 at 23:24
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Executive
22 Points Posted on 02 October 2020
If , we will issue the Eway bill for total invoice bill, or before TCS calculated value..
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On 02 October 2020 at 08:18
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A/C MGR
23 Points Posted on 02 October 2020

I THINK, GOVERNMENT SHOULD APPLY 1-4-2021 SO IT IS VERY CONVENIENT ALL BUSINESS PERSON

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On 02 October 2020 at 12:18
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GST Practitioner
55067 Points Posted on 02 October 2020

need to issue eway on total invoice bill , put the TCS amount in Tab others

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On 02 October 2020 at 13:05

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