https://www.taxtmi.com/acts?id=43613 Amendments to section 206C substitute sub-section (1F) to require sellers of motor vehicles and other goods notified by the Central Government, above the prescribed value, to collect TCS at the time of receipt; they limit correction statements to six years from the end of the relevant financial year; permit credit to other eligible persons; bifurcate interest rates into a lower rate until tax is collected and a higher rate on collected-but-unpaid tax; insert a time bar on deeming orders under sub-section (6A); and enable government notifications to suspend or lower collection for specified persons or transactions. en-us Tue, 23 Jul 2024 15:53:21 +0530 Tue, 23 Jul 2024 15:53:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=43613 Amendments to section 206C substitute sub-section (1F) to require sellers of motor vehicles and other goods notified by the Central Government, above the prescribed value, to collect TCS at the time of receipt; they limit correction statements to six years from the end of the relevant financial year; permit credit to other eligible persons; bifurcate interest rates into a lower rate until tax is collected and a higher rate on collected-but-unpaid tax; insert a time bar on deeming orders under sub-section (6A); and enable government notifications to suspend or lower collection for specified persons or transactions. Act-Rules Bills Tue, 23 Jul 2024 15:53:21 +0530 https://www.taxtmi.com/acts?id=43613