Treatment of GST in TCS

Last updated at April 16, 2024 by

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Only TCS Sales Without GST A Makes Sales to B of 100000 B Pays him 100000+1000 TCS A Deposits 1000 to Govt Sale 1,00,000 Cheque 101000 A B 1000 TCS Deposit GST With TCS Sales A Makes Sales to B of 100000+5000 GST B pays him 105000 + 1% of 105000 TCS A Deposits 1050 to Govt Sales GST Total 1% TCS Total Amt 100000 5000 105000 1050 106050 Sale 1,00,000+5% GST Cheque 105000 +1% TCS of 105000 A B TCS Deposit 1050 GST Deposit 5000 teachoo.com

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.