TCS on advance receipt of payment Under section 206C(1H), sellers must deduct TCS every time that they receive payment against a sale consideration, or every time that they receive an advance payment. However, aa difficulty arises in the calculation when the amount of the pa...
However to collect TCS on sale of goods, the seller needs to raise sale invoice including the amount of TCS, account in the books as a TCS liability even in actual sense it is not payable. Even though the TCS amount is debited to the buyer, t...
Additionally, you also have a special master for TCS called TCS Nature of Goods, which will help you set up important TCS details such as the Section, Payment code, TCS rates, method of TCS calculation (either realisation or accrual), and so on....
This section of the page shows the number of discretionary Buy and Sell transactions recorded for the last 3-Months, 6-Months, and 1-Year. The histogram provides a visual clue as to whether more buying or selling occurred. For Buys, this includes "Buy" and "Subscribe" transactions. When...
TCS on Advance receipt of payment: Every time the seller receives payment against sale consideration or receive an advance payment, the seller is mandated to deduct TCS under Section 206C(1H). The difficulty arises in the calculation of the amount ...
2.1 To make a purchase on our Website, You must have an account (hereinafter the "Account"). You can create an Account as follows: - Either by going to the "Create an Account" (or equivalent) section of the Website; - Or in the process of ordering, during the identification step. ...
Tax collected at source (TCS) is the tax payable bya seller which he collects from the buyer at the time of sale. Section 206C of the Income-tax act governs the goods on which the seller has to collect tax from the purchasers.
TCS calculation on customer payments under section 206C(1H). TCS calculation on customer payments under section 206C(1H) and where GST is also applicable. See Also As per new TCS rules, TCS is to be collected on receipt of payment that is over and above the threshold amount, the ...
As per section 52 of CSGT Act, the TCS is to be collected by the e-commerce operator with respect to taxable supplies made through their portal by other suppliers, where the consideration in respect of such supplies is collected by him. Thus, the applicability for TCS collection depends upon...
Dear Sir Our Company turnover last Financial year 10 crocs above Now charge the TCS in all partys in our sales or This financial year 50 Lakhs above sale invoices only Pl give you Suggestion - GST