TCS is to be charged on Net Value of Taxable Supplies

Net Value of Taxable Supplies


Sales (Aggregate Value of Taxable Supplies Made)


Sales Return (Aggregate Value of Taxable Supplies Returned)

Note:- Exempt Sales not covered, only taxable sales covered

Example 1

Flipkart Sells goods to customer for Rs 100000

It charges Rs 30000 Commission and pays Balance to Vendor

Hence, the amount payable to Vendor is 70000

What is TCS to be deposited

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Example 2

Suppose in last Case, there is Sales Return of Rs 20000

View Answer
  1. GST - Goods and Services Tax, India
  2. GST Computation & Accounting

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.