Tax Collected at Source credit is posted to the supplier's cash ledger upon operator statement filing and offsets tax liability. TCS deposited by the operator into the government account is reflected in the cash ledger of the registered supplier on whose account collection was made, ... Summary
Tax Collected at Source credit is posted to the supplier's cash ledger upon operator statement filing and offsets tax liability.
TCS deposited by the operator into the government account is reflected in the cash ledger of the registered supplier on whose account collection was made, based on the operator's statement filing, and may be used to discharge the supplier's tax liability for those supplies.
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