Amendment in TCS provisions

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  1. Saurabh G Jain

    Saurabh G Jain New Member

    In case of sale of goods/ Provision of service, If amount of single bill (whether it is sale bill of any goods or service bill except Bullion and Jewellery) is more than Rs. 2 lakh and whole consideration or any part of it, is received in cash then we shall also have to collect the TCS @1% of the whole consideration.
    In the above provision which type of payment mode is treated as cash?
    Whether payment received through bearer cheque then it is considered as cash or not?
     
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