The new section 206C (1H) which is applicable with effect from 1st October, 2020, prescribes that if a seller (being a person, whose turnover in the previous financial year exceeds 10 crores rupees) makes sale of “goods” whose value, either individually or in aggregate exceeds 50 lakhs, then the seller shall collect tax at source at 0.1% on the value of sale consideration exceeding 50 lakh rupees from the buyer.

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