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TCS on GST included value or excluded value?

Income Tax - Started By: - CA-Gourav Garg - Dated:- 6-3-2018 Last Replied Date:- 9-4-2018 - Dear All,My query is TCS@1% to be collected on sale value included GST or excluded GST?For Eg. Sale Value is ₹ 100/-IGST @18% Rs. 18/-Total Rs. 118/-Now TCS @ 1% on which value, whether 100/- or 118/-?Please provide solution with notification no. or any other documentary evidence. - Reply By KASTURI SETHI - The Reply = As per Section 52 of CGST Act, it is net value of taxable supplies. - Reply By CA .....

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e Reply = Sorry my mistakeplease refer some supporting for your answer - Reply By Ganeshan Kalyani - The Reply = I agree with Sri Mukund Sir's view. - Reply By YAGAY AND SUN - The Reply = TCS Rate Chart on sale of Goods & Services w.e.f. 01.06.2016. Budget 2016 has effected changes / New Provisions with effect from 01.06.2016 in respect of Tax Collected at Source (TCS) on Sale of Bullion, Jewellery, Motor vehicle and Sale in cash of any goods. In this Article Author has discussed such Ch .....

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er obtained under a Forest Lease 2.5% Timber obtained by any mode other than Forest Lease 2.5% Any other Forest produce not being forest timber or tendu leaves 2.5% Scrap 1% Minerals being Coal or Lignite or Iron ore 1% Parking Lot, Toll Plaza, Mining and Quarrying 2% Where ANY amount of consideration is received in cash on sale of :- Bullion (consideration exceeds ₹ 2 Lakhs), Jewellery (consideration exceeds ₹ 5 Lakhs), and with effect from June 1,2016 ,Any other goods and services .....

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ds and services and for curbing the flow of unaccounted money in the trading system and to bring high value transactions within the tax net, it is proposed to amend the Section 206C of Income Tax Act,1961 to provide that the seller shall collect the tax at the rate of one per cent(i.e. 1% of sale value) from the purchaser on - Sale of motor vehicle of the value exceeding ten lakh rupees (Where amount is received by cash, cheque or any other mode); or - Sale in cash of any goods (other than bulli .....

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hever is earlier. Definition of various Term in TCS (a) Seller: According to this provision every following person is covered under the scope of the seller for the purpose of TCS: (i) The Central and State Government. (ii) Local authority (iii) Statutory corporation or Authority (iv) Company (v) Firm (vi) Co-operative society (vii) Individual or Hindu undivided family (HUF),whose books of accounts are liable to be audited under section 44AB of Income Tax Act. (b) Buyer: (i) According to the this .....

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on who obtains in any sale, goods of the nature specified in the said sub section; Therefore goods purchased by end use consumers are not covered under TCS. Tax collection at lower rate: Section 206C (9):- Buyer can apply to his Assessing Officer in Form 13 for tax collection at lower rate. On receiving application in Form 13, Assessing officer, if satisfied, may issue such certificate directly to seller under advice to the buyer. This rates is applicable for a specific seller, whose name is giv .....

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