Tax Management India. Com
                        Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 
Discussions Forum
Home Forum Income Tax This
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

← Previous Next →

TCS UNDER SECTION 206C(1) H, Income Tax

Issue Id: - 116726
Dated: 22-9-2020
By:- Vijay Batra
TCS UNDER SECTION 206C(1) H

  • Contents

Dear All

Can anyone confirm TCS UNDER SECTION 206C(1) H will be applicable on supply of SEZ Sales and EOU division

Post Reply

Posts / Replies

Showing Replies 1 to 2 of 2 Records

1 Dated: 22-9-2020
By:- KASTURI SETHI

Supply (Sales) to SEZ is export. Although SEZ unit located in India, but supply to SEZ is to be treated as export of goods out of India as per Section 51 of SEZ Act. Supply(sales) to EOU is treated as Deemed Export.--Para 7.02A (b) of FTP 2015-2020 (extended up to March, 2021). Same benefits are available to both types of export. In my view, TCS is not applicable inasmuch as the above sales fall in the exclusion clause, "other than the goods being exported out of India ". It is to be treated out of India for the purpose of export.

Section 206 C(1) H) of Income Tax Act

“Every person, being a seller, who receives any amount as consideration for sale of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year, other than the goods being exported out of India or goods covered in sub-section (1) or sub-section (1F) or sub-section (1G) shall, at the time of receipt of such amount, collect from the buyer, a sum equal to 0.1 per cent. of the sale consideration exceeding fifty lakh rupees as income-tax:”

Pl. note that I am not expert in Income Tax field but my reply is based on FTP read with above Section of Income Tax Act.


2 Dated: 22-9-2020
By:- YAGAY andSUN

In our view, exemption will be only for the supplies which are for authorized usage purposes.


1

Post Reply

← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||