TCS ON SALE OF GOODS U/S 206C(1H)

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....CS ON SALE OF GOODS U/S 206C(1H)<br> Query (Issue) Started By: - CABIJENDERKUMAR BANSAL Dated:- 1-9-2020 Last Reply Date:- 22-9-2020 Income Tax<br>Got 2 Replies<br>Income Tax<br>Dear All As per secti....

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....on 206C(1H), TCS on sale of goods is applicable from 01.10.2020. My query is: for applicability under this FY i.e. 2020-21, if sale of &#8377; 50 lacs has been completed upto 30.09.2020 and after 30.....

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....09.2020 upto 31.03.2021 sale is &#8377; 10 lakh only. Will TCS is applicable on &#8377; 10 lacs ? Will &#8377; 50 lacs limit to be considered on consolidated basis in FY 2020-21 (from 01.04.2020) or ....

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....it has to be receipts of &#8377; 50 lacs after 01.10.2020 for applicability of the section ? Regards Reply By YAGAY andSUN: The Reply: If the seller makes sale of goods of value or aggregate value ....

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....to a buyer exceeding &#8377; 50 lakhs, he needs to collect TCS at 0.10 % at the time of RECEIPT of the consideration on the amount exceeding &#8377; 50 lakhs. The TCS rate will be 1% if there is no PA....

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....N/Adhar of the buyer is available with the seller. Reply By Vijay Batra: The Reply: TCS will be applicable on only 10 Lakhs will be charged on Invoice<br> Discussion Forum - Knowledge Sharing ....