Welcome to your Ch 31: TDS and TCS (6 to 10)
6. Examine the following statements in the light of section 51-
(i) Payment is made on 2-8. Tax is credited on 31-7. Tax is required to be deducted in the month of August
(ii) Deductor can claim credit of TDS if amount is not credited in electronic cash ledger of deductee.
7. Examine the following statements in the light of section 52-
(i) Electronic commerce operator who sells it’s own goods or services is required to collect tax at source.
(ii) Maximum rate of TCS is 2%.
8. Examine the following statements in the light of section 52-
(i) ECO shall deduct tax only if net value of taxable supplies exceeds ₹ 2,50,000.
(ii) Buyer A purchases books from ECO for ₹ 50,000 and T shirt for ₹ 10,000. TCS shall be ₹ 100.
9. Examine the following statements in the light of section 52. ECO is registered in Karnataka-
(i) Seller is registered in Delhi. Buyer is unregistered and gives delivery address as Karnataka. Buyer buys taxable
(ii) Buyer A buys goods for ₹ 10,000 on 15-7 and returns goods of ₹ 2,000 on 18-7. Buyer B buys goods for ₹ 3,000 on 31-7 and return goods for ₹ 15,000 on 4-8. Tax shall not be collected in this case.
10. Examine the following statements in the light of section 52-
(i) ECO shall file monthly statement in GSTR 8.
(ii) ECO shall file annual statement in GSTR 9B.
