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Learn TCS on sales of goods section 206C(1H) accounting entries in Tally Prime. The tax collected at source (TCS) is the tax payable by a seller, which he collects from the buyer at the time of sale. With the intention of widening and deepening the tax base, the Finance Act 2020 has introduced the new Section 206C subsection (1H) effective from 1 Oct. 2020. Every seller of goods, who receives consideration or aggregate of consideration for sales of goods exceeds 50 Lacks during the FY, shall collect TCS @ 0.1% of sales consideration from the buyer on the amount exceeding 50 Lacks. Only those sellers, whose gross turnover or receipts from the business for the immediately preceding Financial Year (i.e. 2019-20) exceeds Rs.10 Crores shall be liable for the collection of TCS.
So in this Tally Prime Hindi video tutorial, you can learn the accounting treatment of the new TCS provision with GST and how to enable TCS on sale of goods in tally prime. Learn all about section 206c(1h) – TCS on the sale of any goods.

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