WebSep 18, 2024 · TCS Tax Under GST. Any dealer selling goods on online platforms are liable for a 1% rate of TCS Tax under GST. This means the dealer would get the payment from online sources after deducting 1% TCS tax amount under GST. This is stated at 0.5% in CGST & 0.5% in SGCT in IGST Act. 10th of every next month in the due date of filing … WebApr 22, 2024 · at the time of debiting the amount payable by the buyer or. at the time of receipt of such amount from the said buyer, by any mode, What is Rate of TCS on overseas Tour Package & Foreign Remittance ? TCS has to be collected from the buyer, a sum equal to 5% of such amount as income-tax: In nonPAN/Aadhaar cases the rate shall be …
TCS On sale of Goods- New Income Tax Compliance w.e.f 01.10.2024
WebOct 19, 2024 · SUBMIT WITH EVC: Enter the OTP sent on email and mobile number of the Authorized Signatory registered at the GST Portal and click the VALIDATE OTP button. 29. The success message is displayed … WebJul 12, 2024 · Section 206C (1F) Every person, being seller, who receives any amount as consideration for sale of a motor vehicle of the value exceeding ten lakh rupees, shall collect tax from buyer at the rate of 1% of sale consideration. Tax shall be collected at the time of receipt of amount from the buyer. TCS on motor vehicle to be collected at the time ... friendship adventist school linthicum
Tax Collected at Source ( TCS ) – Payment, Exemption & Rates of TCS …
Web2 days ago · Tata Consultancy Services (TCS) kickstarted the earnings season of the March quarter of the fiscal year 2024-23 (Q4FY23) on April 12. The IT bellwether posted a 5 per cent quarter-on-quarter (QoQ) rise in its consolidated net profit at Rs 11,392 crore for the January-March period. On a yearly basis, the profit grew 14.76 per cent. WebMay 10, 2024 · Note that if you don’t update your PAN No. and also don’t provide an exemption certificate then 5% TDS will be deducted instead of just 1%. 2. GST (1% TCS … WebAug 11, 2024 · Because the e-commerce store charges a commission of Rs. 200, it must deduct 1-percent tax (TCS) on the amount, excluding the money that was paid as tax (Rs. 1,525) and commission (Rs. 200). In other words, the e-commerce store must deduct 1-percent GST TCS on Rs. 8,475 (= 10,000 – 1,525), or Rs. 84.75. friendship adventist school