TCS on Sales: Tax Collection at Source
Section 206C#
TCS on sale of goods by sellers.
TCS Rates#
- 0.1% for specified goods
- 1% for alcohol, timber
- 5% for scrap
Threshold#
- Aggregate sales above ₹50 lakh
Collection & Deposit#
- Collect at time of sale
- Deposit by 7th of next month
Conclusion#
TCS ensures tax collection at point of sale.