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 li...
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 limit prescribed by the government. User has ...
In the withholding tax group, you can include the GST tax component and charges in the base amount for TCS calculation.PAN-based accumulation of transactions for multiple customersIn the case of TCS on sales of goods, TCS will be deducted based on PANs. If multiple customer...
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...
The TCS are available at any time on the Website by clicking on "Terms and Conditions of Sale" or "TCS". The TCS may change at any time. In case of a dispute about an order, the applicable conditions are those that were in force when the order was placed. In any other case, chan...
In case of Intra-State Sale, CGST and SGST/UTGST will be calculated. See Also GST and TDS on Vendor Advance Find free e-learning modules for Business Central here Feedback Was this page helpful? YesNo Provide product feedback Additional resources ...
TCS on sale of scrap @ lower rate For example, invoice has been raised to customer for INR 1,00,000 towards sale of Scrap. Customer has a certificate of income tax at Lower rate @ 0.5% on Scrap instead of normal rate. In this case TCS calculation will be as following: ...
User will receive payment from customer for sales of goods and services, TCS is to be calculated on receipt of payment for sale of goods. Provision has been provided to enter amount on which TCS can be calculated on the event of receipt of payment from customer. In addition to it, ...
TCS in TallyPrimeTCS (Tax Collected at Source) is the tax that a seller collects from the buyer during the sale of specific goods under provision 206C, or any other goods on the basis of realisation. TallyPrime not only supports the latest budget changes for TCS but also provides you with...
In this case, Abhinav is the buyer and the car manufacturer is the seller. TCS is applicable only to specific goods like liquor, timber wood, minerals, and luxury vehicles. But why these specific goods? Classification of Sellers for TCS ...