Check sibling questions

TCS Means Tax Collected at Source

It is a tax which is to be collected on Certain Incomes

Suppose A makes Sale of 100000 to B on which TCS @ 1% is applicable

In this Case,

A will be collect 101000 from B (100000 Sales Amount+1000 TCS)

A will deposit 1000 TCS with Government

tcs-in-gst-image.jpg



Who is the Collector and Collectee in this case?

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Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 12 years. He provides courses for Maths and Science at Teachoo.