Whether TCS can be collected on an amount inclusive of GST?
Whether TCS can be collected on an amount inclusive of GST?
As per section 206C (1) every person, being a seller shall, at the time of debiting of the amount payable by the buyer to the account of the buyer or at the time of receipt of such amount from the said buyer in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, collect from the buyer. Hence, the amount debited to the account of the buyer or payment shall be received by the seller inclusive of VAT/ excise/GST. TCS to be collected inclusive of GST.
Also Read: Should TDS be deducted on reimbursement expenses along with professional fees?
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