Hi.
TCS(Tax collected at source) is to be deducted including tax amount(i.e.including Excise duty,VAT) or excluding tax amount?
Thank in advance.
Tcs to be deducted including tax or excluding tax
Replies (4)
Including Tax, let's see others view also
TDS is to be deducted on the amount exclusive of service tax if the service tax amount is shown separately.
What about TCS??
plz give answer
TCS is charged on purchsase price which includes SALE PRICE + DUTY + VAT.
TCS applies u/s 206c for specific catagories for purchases.It should be made on gross value of purchases( inclusive of all duties,& VAT).the reason being it is due on the amount payable by the buyer as stated in the act and not on purchase cost.
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