https://www.taxtmi.com/news?id=23220 The TCS applies to sellers above the turnover threshold who must collect tax on sale consideration received on or after the commencement date when a buyer's cumulative receipts from that seller in the financial year exceed the receipt threshold; exports are excluded, pre-commencement receipts are not subject to collection, running-account receipts after the commencement date are treated as subject to TCS without allocation to prior sales, and TCS operates as advance tax creditable against the buyer's income-tax liability with excess refundable. en-us Thu, 01 Oct 2020 09:22:50 +0530 Thu, 01 Oct 2020 09:22:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=23220 The TCS applies to sellers above the turnover threshold who must collect tax on sale consideration received on or after the commencement date when a buyer's cumulative receipts from that seller in the financial year exceed the receipt threshold; exports are excluded, pre-commencement receipts are not subject to collection, running-account receipts after the commencement date are treated as subject to TCS without allocation to prior sales, and TCS operates as advance tax creditable against the buyer's income-tax liability with excess refundable. News - Thu, 01 Oct 2020 09:22:50 +0530 https://www.taxtmi.com/news?id=23220