TaxTMI 
TaxTMI 
Dear All,
Income-Tax-TCS on Sale of Goods in Excess of ₹ 50 Lacs
- Whether this TCS @ 0.1% to be collected on the amount received towards Basic Value or Invoice Value including GST?
Please advice on this.
Thanks,
Wilson.A
Income-Tax-TCS on Sale of Goods in Excess of ₹ 50 Lacs
09 Mar 2020 
1 Reply 
2510 Views Asked by
Tax Collection at Source on sale of goods includes GST for TCS computation, subject to contractual allocation and operative date.
The provision levying Tax Collection at Source on sale of goods was deferred to 1 October 2020; the undefined term consideration is to be read to include taxes recovered, so GST forms part of the consideration for TCS computation, subject to the parties' contractual allocation (for example, CIF includes insurance and freight). (AI Summary)
The provision levying Tax Collection at Source on sale of goods was deferred to 1 October 2020; the undefined term consideration is to be read to include taxes recovered, so GST forms part of the consideration for TCS computation, subject to the parties' contractual allocation (for example, CIF includes insurance and freight). (AI Summary)