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of <h1>Sellers must collect tax at source under Section 206C on specified goods, leases, high-value items and certain remittances</h1> A seller or specified transferor must collect tax at source at prescribed rates on receipt or debit for sales of specified goods (alcoholic liquor, tendu leaves, timber/forest produce, scrap, certain minerals) and on leases/licenses for parking, tolls, mining; extended provisions require collection on high-value goods, motor vehicles and certain remittances. Buyers resident in India can avoid collection by furnishing a prescribed declaration for manufacturing/generation of power; an assessing officer may certify a lower collection rate. Collections must be paid, reported and evidenced within prescribed times; failure to collect or pay attracts liability, interest and possible assessment as an assessee-in-default, subject to statutory exceptions and thresholds.
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