TCS Rates Chart for A.Y. 2019-20, F.Y. 2018-19

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Every seller who comes under the specified goods as prescribed by Income tax act collect TCS from the buyer at prescribed rates and deposit the same in the account of Income Tax Department. The TCS will be collected as mentioned in the following table. The table shows nature of payment, TCS rates and status of asseseee. The rate of TCS will be different according the status of assessee like individual assessee, company assessee, non resident assesee and resident assessee.

Check TDS Rates for F.Y. 2017-18/A.Y.2018-19

TCS Rates (F.Y. 2018-19 / A.Y.2019-20)

The following TCS rates are applicable to all Residents, Non-residents individuals/HUF/AOP/BOI/artificial judicial persons, non-residents co-operative society, firms, non-domestic company. The surcharge and education cess will be applicable to non residents on certain collections. The surcharge and education cess table is given below.

SectionNature of Goods TCS Rates
206CAlcoholic liquor for human consumption (other than Indian made foreign liquor)1%
206CIndian made foreign liquor1%
206CTendu Leaves5%
206CTimber obtained under a forest lease 2.5%
206CAny other forest produce (not being timber/tendu leaves)2.5%
206CScrap1%
206CMinerals being coal or lignite or iron ore1%
206CGrant or Lease of Parking lot, toll plaza, mining and quarrying2%
206CSale of motor vehicle of the value exceeding Rs. 10 Lacs 1%

Surcharge and Health & Education Cess on TCS Rates

Payee Status Payment Exceeds Surcharge Rates Education Cess
Non Resident Individuals/HUF Payment more than Rs. 50 lakh but not more than Rs. 1 crore 10% 4% w.e.f. A.y. 2019-20 on (TDS+Surcharge)
Payment more than Rs. 1 crore 15% 4% w.e.f. A.y. 2019-20 on (TDS+Surcharge)
Non Resident – Co-operative society/firm Payment more than Rs.1 crore 12% 4% w.e.f. A.y. 2019-20 on (TDS+Surcharge)
Non-domestic companyNon-comestic company Payment more than Rs. 1 crore but not more than Rs. 10 crore 2% 4% w.e.f. A.y. 2019-20 on (TDS+Surcharge)
Payment more than than Rs. 10 crore 5% 4% w.e.f. A.y. 2019-20 on (TDS+Surcharge)

Notes for TCS Rates (F.Y. 2018-19 / A.Y.2019-20)

If PAN of the collectee is not intimated to the collector, tax will be collected by virtue of section 206CC either at twice the rate specified in the above table or at the 5 % whichever is higher. However, the provisions of section 206CC shall not apply in the case of non-resident collectee who does not have any permanent establishment in India.

Q.) Whether TCS can be collected on amount inclusive of GST?

As per section 206C (1) every person, being a seller shall, at the time of debiting of the amount payable by the buyer to the account of the buyer or at the time of receipt of such amount from the said buyer in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, collect from the buyer. Hence, amount debited to the account of buyer or payment shall be received by seller inclusive of VAT/ excise/GST. TCS to be collected on inclusive of GST.

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16 thoughts on “TCS Rates Chart for A.Y. 2019-20, F.Y. 2018-19

    • Hello, Yes TCS will be applicable on Wooden Scrap and Iron scrap @1%. You can check above table for TCS rates on scarp. Thanks

  1. सर TCS SALE AMOUNT पर लगता है या sale amount+gst पर…..

    • Hello Sir, you have to deduct TCS on basic value + GST. As per section 206C “Every person, being a seller shall, at the time of debiting of the amount payable by the buyer to the account of the buyer or at the time of receipt of such amount from the said buyer in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, collect from the buyer of any goods of the nature. So, The amount you will collect from buyer is including GST not basic amount. Please ask if you have any doubt.

  2. If party purchase alcohol 7849500 then he has to sale the whole purchase in the same year or
    he will not allowed to made any closing stock..for that year…
    .
    Example
    Purchase 7849500
    Sale. 4156800
    Profit. 415680

  3. is tcs applicabe on machinery and machinery parts. As we are manufacturer of Powerloom and other textile machineries as well as Rice plants.

  4. What is the TCS rate of Iron & steel scrap, We are manufacturing of Mining machnery and it spares parts, our manufaturi scrap is iron & steel.

  5. Want to know how to deposit the TCS amount under Mining & Quarrying @2%, which is collected from Party.

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