Understand TCS on Sale of Goods (Section 206C (1H)) with FAQs. Learn about rates, applicability, and key clarifications. Stay informed on Income Tax Act changes for better compliance. TCS on the sale of goods under Section 206C(1H) applied to sellers with a ₹10 crore turnover selling goods above ₹50 lakhs. TCS at 0.1% was collected on the sale consideration. Only the sale of goods was considered. From April 1, 2025, TCS on the sale of goods will no longer be applicable. Furthermore, there's a minimum sale value threshold specified for each good. Current TCS Rates And Thresholds (As Of February 2024): The current TCS rate is set at 5% for the majority of goods . Nevertheless, there are exceptions, with rates varying from 1% to 20% based on the specific type of goods .
