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TCS on Sale of Goods – The Compliance Burden

May 23, 2020[2020] 116 682 (Article)
This section is applicable to every person who sells goods and receives consideration for such sale if the aggregate value of such sale during the previous year exceeds fifty lakh rupees. The liability to collect such tax will arise only when the seller receives the consideration. The TCS rate is 0.1 percent of the sale consideration if the sale consideration exceeds fifty lakh rupees.
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