TCS

[Former Member]

Dear All,

I have one doubt in Scrap sales scenario. TCS (Tax Collected at Source) I need to consider as tax or revenue.

Regards,

Srikanth

[Lakshmipathi · Accepted solution]

Dear Srikanth

It should be treated as tax. The reason being when you earn some money, you are suppose to pay income tax for that. Similarly, when you make scrap sales, you are collecting tax from the purchaser and paying it to government. This is also like paying sales tax to government for normal sales.

thanks

G. Lakshmipathi

[Former Member]

TCS:

Condition Type: If existing condition type meets the requirement, we need not create a new condition type. Considering the requirement for new condition type, the configuration will be done in spro as follows: IMG --> Sales & Distribution --> Basic Function --> Pricing Control --> Condition Type. It is always recommended to copy an existing similar condition type & make the necessary changes. Here we assign Access sequence to Condition type. Ensure to create a TCS i.e Tax Collected at source Condition Type, as a copy of discount & surcharge condition type & place it as the last Condition in Pricing Procedure, which requires to collected from the vendor & paid to Government (in Indian Scenario) It is definately a Tax, but it is to be collect & paid the the authorities.

Regards,

Rajesh Banka

Reward point if useful.

[former_member204513]

Dear Srikanth,

As per my view, You need to consider as Tax only.

Regards,

Murali.