The nature of the goods or services, along with whether the customer falls under a concessional category (such as being exempt from tax collection for specific reasons), determines whether TCS should be applied and at what rate.
- Click the
icon, enter Customers and select the relevant link. - Navigate to Customer - TCS Customer Concessional Codes.
- If the customer is eligible for reduced tax rates or tax exemptions, the Customer Concessional Code must be configured to map the concessional rate with the correct customer. The Concessional Code should be left blank, if no concession is applicable.
- Customers may also be categorized based on their assessee status, which may affect the nature of collection. The Assessee Code is used to apply the correct TCS Tax rates or to determine if the customer is eligible for a reduced rate or exemption.
