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1. Assets covered under TCS provisions and applicable standards
If the goods listed below are used for production, processing, or manufacturing purposes, taxes are not payable. If the same goods are used for commercial purposes then taxes are payable. Taxes are collected by the seller at the point of sale. The TCS standard differs from the goods specified under different categories:
Frequently Asked Questions
Submission of Form 24G
In the case of a government office, where the tax is paid on a Central Government debt other than the challan production associated with the banking tax, below are the changes in the rules, Form 24G must be submitted:
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