TCS Rates Chart [F.Y. 2017-18] [A.Y. 2018-19]

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. There are two TCS charts for A.Y. 2016-17 & A.Y. 2015-16.

TCS Rates (F.Y. 2017-18 – A.Y. 2018-19)

  • Alcoholic liquor for human consumption – 1%
  • Indian made foreign liquor – 1%
  • Tendu leaves – 5%
  • Timber obtained under forest lease – 2.5%
  • Timber obtained by any mode other than a forest lease – 2.5%
  • Any other forest produce not being timber or tendu leaves – 2.5%
  • Scrap – 1%
  • Parking lot – 2%
  • Toll Plaza – 2%
  • Mining & Quarrying – 2%
  • Minerals, being coal or lignite or iron ore – 1%
  • Bulling or Jewellery (Sale of Rs. 2 lakh if paid in cash) – 1% (not applicable w.e.f. 1-4-2017)
  • Motor Car (if sale exceeding Rs.10 Lakh if paid in cash) – 1%

TCS Rates (F.Y. 2016-17 – A.Y. 2017-18)

  • Alcoholic liquor for human consumption – 1%
  • Tendu leaves – 5%
  • Timber obtained under forest lease – 2.5%
  • Timber obtained by any mode other than a forest lease – 2.5%
  • Any other forest produce not being timber or tendu leaves – 2.5%
  • Scrap – 1%
  • Parking lot – 2%
  • Toll Plaza – 2%
  • Mining & Quarrying – 2%
  • Minerals, being coal or lignite or iron ore – 1%
  • Bulling or Jewellery (Sale of Rs. 2 lakh if paid in cash) – 1%
  • Motor Car (if sale exceeding Rs.10 Lakh if paid in cash) – 1%

TCS Rates Chart [F.Y. 2015-16] [A.Y. 2016-17]

Nature of GodssRate in Percentage
Alcholic Liquor for Human Consumption1
Any other forest produce not being timber or tendu leaves2.50
Sale of Jewellery for a consideration exceeding Rs.5,00,000 in cash1%
Bullion or Jewellery (If sale is exceeding Rs. 2 Lakh)1
Minerals, being coal or lignite or iron ore1
Scrap1
Tendu Leaves5
Timber obtained by any mode other than a forest leave2.5
Grant of Lease/ Licence or otherwise transferring any right or interest in a parking load, toll plaza, mine or quarry2%
Timber obtained under forest lease2.5

TCS Rates Chart [F.Y. 2014-15] [A.Y. 2015-16]

Nature of GodssRate in Percentage
Alcholic Liquor for Human Consumption1
Any other forest produce not being timber or tendu leaves2.50
Bullion or Jewellery (If sale is exceeding Rs. 2 Lakh)1
Minerals, being coal or lignite or iron ore1
Mining & Quarrying2
Parking lot2
Scrap1
Tendu Leaves5
Timber obtained by any mode other than a forest leave2.5
Timber obtained under forest lease2.5
Toll Plaza2

Important Amendment in TCS Rates

  • Individuals/HUF whose sale/receipts/turnover for financial year was Rs. 60 Lakh for A.Y.2012-13 changed to 1 Crore for A.Y.2013-14.
  • Sale of bullion excluding any coin/other article weighing upto 10gms for a consideration exceeding Rs. 2,00,000 in cash. (Finance bill w.e.f. 1st July, 2012)
  • Sale of jewellery for a consideration exceeding Rs. 5,00,00 in cash. (Finance bill w.e.f. 1st July, 2012)

Important points for TCS

  • TCS will not applicable if buyer furnish form 27C, the goods will be used for manufacturing, processing or producing articles or things and not for trading purpose.
  • TCS shall be deposited within one week from the last date of month on which TCS is made.
  • The seller will furnish Form 27 D TCS certificate to the buyer for getting refund on the same.

Also See: TDS Rates for F.Y. 2015-16

Surcharge on TCS Rates

Status of Buyer/Lessor/LicensorA.Y.2015-16A.Y.2016-17
Non-resident individual/HUF/AOP/BOI/Artificial juridicial person, co-operative society or firm, if the total amount collected exceeds Rs.1 crore10% 12%
Foreign company, if the total amount collected exceeds Rs. 1 Crore but does not exceed Rs. 10 Crore2%2%
exceeds Rs. 10 Crore5%5%

Eduction Cess on TCS Rates

The education cess @ 2% and Secondary & Higher Education Cess @ 1% (in al 3%) shall be increased on amount of tax and surcharge if any computed above.

Download TCS Rates Chart in PDF format

8 Comments

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  1. this is easy procedure

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

  3. 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.

  4. KINDLY DETAIL PROVIDE ME FOR TDS DEDUCTION ON TRANSPORTATION

    1. We will cover it in future. thanks

  5. when goods are sold to party then party sales return to me .
    when which amount calculated for tcs .

  6. plz tell me hosiery cutting waste confirm tcs rate

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

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