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...
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 purchase threshold based on the...
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...
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...
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. ...
For further details, see the section headed “Is the restricted transfer covered by ‘adequacy regulations’?” on the page on International transfers after the UK exit from the EU Implementation Period of the ICO website;6.2.2 incorporation of one of the following (as amended, supplemented or...
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.
Section 206C of the Income Tax Act says that when certain specified goods are sold, a certain amount must be added to their sale price – this is TCS, or Tax Collected at Source. The seller imposes this amount on the buyer and then has to deposit it with the government by a certain ...
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...
Section-6: Inventory Management S6. 1 Inventory Management - Introduction, Importance, Advantages S6. 2 Introduction to additional supply vouchers S6. 3 Activation of Purchase Order and Sales Order S6. 4 Activation of Delivery & Receipt Notes S6. 5 Activation of Debit & Credit Note S6. 6 Pur...