Q. TCS on sale of goods

Question

Sir

Buyer gives declaration that he will deduct TDS u/s 194Q in beginning of FY but the taxable value of goods not cross the limit of 50 lakhs. So, he not deduct TDS. 

But the Invoice value of goods cross the limit of 50 lakhs

Is there any liability on seller to collect TCS as consideration amount received in excess of 50 lakhs i.e. invoice value??

Answer 1

Invoice value has to be taken without GST for TDS purpose.

In case seller receives for than 50 lacs in a year, then on excess of 50 lacs, TCS is to be collected.