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 purcha...
As per the interpretation of TCS on sales of goods u/s 206C (1H), the tax should be collected at the time of receipt’. It is clarified under the law that TCS on sales of goods will be collected when actual payment is received by the ...
Open the TCS Allocation Details screen from the sales/receipt voucher. Press F12 (Configure) > Override Tax calculation of realisation-based Nature of Goods > Yes. Set the option Based on Realisation to Yes/No, as per your requirement. This will override the original method of TCS calculation...
Tax Collected at Source (TCS) by an e-Commerce Operator is the tax collected by an E-Commerce Operator while making taxable sales on behalf of other suppliers. GST TCS provisions were deferred for a long time until 01-10-2018 when it was mandated byGST Notification 51/2018-Central Tax da...
Per the interpretation of TCS on sales of goods under section 206C (1H), tax should be collected "at the time of receipt." The law clarifies that TCS on sales of goods will be collected when actual payment is received by the seller.However, to collect TCS on sales of...
Per the interpretation of TCS on sales of goods under section 206C (1H), tax should be collected "at the time of receipt." The law clarifies that TCS on sales of goods will be collected when actual payment is received by the seller.However, to collect TCS on sales of g...
The point of collection of tax As per the interpretation of TCS on sales of goods u/s 206C (1H), the tax should be collected at the time of receipt’. It is clarified under the law that TCS on sales of goods will be collected when act...
The point of collection of tax As per the interpretation of TCS on sales of goods u/s 206C (1H), the tax should be collected at the time of receipt’. It is clarified under the law that TCS on sales of goods will be collected when act...