New TCS to be levied on total sales consideration, including GST

The Central Board of Direct Taxes (CBDT) has clarified that 0.1 per cent Tax Collected at Source (TCS) on sale of goods and services worth more than Rs 50 lakh a year will be levied on the total sales consideration including the GST applied.  In a clarification issued, the tax department has said that no adjustments on account of sale returns, discounts or indirect taxes including GST is requ…