TCS Rate Chart Tax %
Type of Goods
Liquor of alcoholic nature, made for consumption by humans 1.00%
Timber wood when collected from a forest that has been leased 2.50%
Tendu Leaves 5.00%
Timber wood when not collected from a forest that has been leased, but any other mode 2.50%
Any forest produce other than tendu leaves and timber 2.50%
Scrap 1.00%
Toll Plaza, Parking lot, Quarrying and Mining 2.00%
Minerals that include lignite or coal or iron ore 1.00%
Bullion or Jewellery( if sale consideration paid in cash  exceeds over Rs. 2lakhs in case of bullion & 5 Lakhs in case of jewellery ) New Amendment from 1st April 2017) 1.00%
Motor Car ( if sale consideration paid in cash  exceeds over Rs. 10 lakhs) 1.00%
Purchase of goods & services ( if consideration paid in cash  exceeds over Rs. 2 lakhs) 1.00%

 


Changes in TCS Rates Due to Lockdown

However,Due to Lockdown,Government has temporarily reduced Rate by 25%

hence,TCS Rates is Changed as follows

 

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Note - This New Rate is Temporary only if TCS Deducted form 14 May 2020 to 31 Mar 2021

After this old Rate will be applicable

  1. Tax Practical
  2. Practical TDS (Non Salary)

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.