TDS is the tax which is deducted on a payment made by a company to an individual, in case the amount exceeds a certain limit. TCS is the tax which iscollectedby sellers while selling something to buyers. ... TCS deduction is applicable on sales of goods like timber, scrap, mineral wood...
In the case of TCS on sales of goods, TCS will be deducted based on PANs. If multiple customers have the same PAN, all transactions by those customers will be accumulated and compared to the threshold that is prescribed by the government. You can also accumulate the purch...
TCS on Purchase of goods deducted by vendor: In case TCS is deducted against the organization by the selling vendor, the user can apply the same withholding tax group “TCS on sales of goods”. The threshold will not apply to the purchase tran...
In case of TCS on “sale of goods” deduction of TCS will be made based on PAN number. If multiple customers have same PAN number than all transactions executed by different customers have same PAN will be accumulated and compared against threshold...
Ankama Store Terms and Conditions of Sale ARTICLE 1: INTRODUCTION The general Terms and Conditions of Sale ("TCS") presented below apply to any purchase of products on the website www.ankama-shop.com (the "Website") completed between you ("You" or the "Customer") and the company AKM Di...
Press Alt+G (GoTo) > Create Master/Alter Master > TCS Nature of Goods, and select the relevant Nature of Goods. Enter relevant details such as the name of the Nature of Goods, Section, Payment code, Threshold/exemption limit, and applicable TCS rates. Note: You can set TCS rates for...
In short, the seller collects TCS on whichever is earlier of the following two dates: While debiting money payable by a buyer in the books of accounts After receiving money from a buyer via cash/cheque/draft TCS Rate Chart: Goods Collected Under TCS Provisions and Rates Applicable To Them ...
They will only process your personal data on Our instructions and they are subject to a duty of confidentiality.7.2 We have put in place procedures to deal with any suspected personal data breach and will notify you and any applicable regulator of a breach where We are legally required to do...
The applicable GST TCS rate is subject to variation, depending on the transaction type and the seller’s turnover in the previous financial year. For e-commerce, the relevant rate is 1% (0.5% CGST + 0.5% SGST) on the gross consideration value for providers having a turnover of more than...
the assessing officer would issue such certificate directly to seller under advice to the buyer. The said rate is applicable for a particular seller, whose name is mentioned in the certificate and cannot be taken as all prevailing approval for all sellers for purchase of specified goods from anyb...