What is the Eligibility of TCS

TCS eligibility show those who are having 10crs Turnover preceding year, 

My Qus is How can I calculate Turnover? Whether it includes GST on sales & services or not? and Labor charges  charges are include or not?

Replies (3)
Quick Summary
This discussion clarifies the eligibility for TCS (Tax Collected at Source), focusing on the turnover threshold of 10 crore rupees. It addresses how to accurately calculate this turnover, specifically questioning whether GST on sales and services should be included. The consensus is that the taxable sales value is what counts, and GST should be excluded from the turnover calculation. The inclusion of labour charges is also discussed in relation to turnover.

Previous fy turnover 10 cr, then tcs applied, but those debtor sale bill above 50 lacs over now current year
Turnover should include all the taxable sales value which have occurred during the year. Component of GST shouldn't be included
Thank sir

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register