All You Need To Know About From 27C

The average working class man is so consumed in fulfilling his needs; it’s very rare he pauses, peeks his head out of the crowd and tries to see the bigger picture or way ahead. We live in a world where we have to do everything today and now.

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‘Save money and money will save you.’

  - Jamaican proverb

The future is uncertain, and the past is hazy. Be it the average teenager or simply a working unmarried person, life is has changed drastically, and money is the only factor that makes us happy with every passing day. Nothing else even comes close.

We struggle to enjoy the simpler things in life and do not mind paying that extra penny to go a little bit more further to have just that extra bit of satisfaction. It is next to impossible.

What amplifies that feeling is the constant urge to outperform ourselves with every passing day. For example, we save and finally get ourselves a car, we drive it for a year or two and after a certain period of time, and we feel the need to upgrade to something bigger or faster depending on our budget.

It’s not a very well known fact that this tendency of human beings to move on to something bigger and better makes us vulnerable to being used by the big brands. Brands rely on our this habit and shoot out offers and schemes that attract the consumer towards it that makes us want to go back to that brand, which in our minds is registered as brand loyalty.

The worst of all being, the government takes advantage of all these things by taxing us left right and centre. While you can search online the different kind of taxes and other additional charges. Let's discuss something closely related to taxes and something that is not spoken about that often.

That being form 27C. Let's discuss What is Form 27C & how to download it?

What is Exactly Form 27C?

To understand what is form 27C we need to understand what are specified goods.

Specified goods are those goods that basically when you end up purchasing attracts TCS. There is a list of goods that attracts TCS. The ones that do are listed below,

  • Liquor containing alcohol for consumption by a human being
  • Timber wood
  • Leaves of Tendu
  • Produce from forest (That does not include timber or tendu leaves)
  • Scrap or waste. 

Now that we have learnt about the goods that attract TCS let’s discuss the rate of tax applicable to them. Form 27C for coal is also available, in the case that you are trading in coal as well. Connect with our representatives at Policy Bazaar to know more about the same.

Tax Rates

  • Alcoholic Liquor for consumption attracts a rate of 1%
  • Timber wood attracts a rate of 2.5%
  • Leaves of tendu attracts a rate of 5%
  • Produce from forest other than timber and tendu attracts a charge of 2.5%
  • Scrap or waste attracts a charge of 1%

To add to all this is also an added surcharge of 10% on the rate of TCS. There is an educational cess at 1% on the basic surcharge.



Zero TCS

In the case that the buyer buys the goods for manufacturing, reproduction and not for sale the TCS remains zero

Receiving the TCS form

When the condition is stated that the buyer shall be utilising the product for personal use, he receives the form TCS and later has to fill it up and forward it.

TAN no.

The next most important aspect is having a TAN no., the TAN no. must be mentioned without fail on each and every challan, forms and certificates, etc.

Combined work for TDS/TCS

The TAN’ no. will work combined for TDS/TCS

Depositing the tax amount

The seller needs to deposit the Tax amount within a maximum of 1 week, from the last working date of the month


The seller depositing the tax amount must also deposit the return form 27EQ quarterly.

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Authorities Who can Use Form 27C (Sellers)

Form 27C can be utilized by the following authorities

  • The State Government
  • The Central Government
  • The Local Authorities
  • The statutory corporation or authorities
  • Private and public companies
  • Firms
  • Co-operative housing or simply co-operative societies
  • Individual or Hindu undivided families

Authorities Who can Use Form 27C (Buyers)

  • Public sector companies
  • Central government of India
  • State Government of India
  • Local authorities
  • Statutory corporation or authorities related to the statutory corporations
  • The Embassy of High Commission or consulate or other trade representatives of foreign states.
  • Any local clubs or clubs such as sports clubs, lifestyle clubs,

Points to Remember

Form 27C online is a pretty simple thing; the document consisting of this form has mainly only two sections,

  • Part 1 and
  • Part 2

Let’s discuss the two parts in detail

Part 1 - Part 1 of the document needs to be filled with the buyer, also they have to fill details such as the address, the PAN number, the goods that are being purchased and what are the utilities in relation to these goods.

Part 2 - Part 2 of the document needs to be fulfilled by the seller and details of procurement and what are the reasons for purchase and how they are going to utilize the goods.

Things to remember also include the fact that during form 27C submissions, once you have filled up all the details, make sure to cross check the same thoroughly, in order to be sure as to how and when one has to about it.

It’s very important to keep in mind that any mistake on your part after submission will make you want to go about the entire process all over again. The process will get even more tedious I the case that the seller or buyer was temporarily located in the country and plans to move on to another country or place that is considerably far away from the place of purchase or distribution. Redoing the process might attract additional steps, clauses, terms and conditions. So  that we might end up giving it up altogether.

Another important factor to keep in mind is the process of following up. Submission is not the end of the process; one has to ensure that post submission one has to go about following up over and over again in order to ensure that there are no errors or mistakes in the filling of the form or the details mentioned.

One has to keep in mind that the government process nearly a million forms at a time and picking up flaws or mistakes can be very tedious and time-consuming, much to the dislike of us tax payers. It is a mild inconvenience that we must readily accept and quickly transform our methods in order to suit the ways of working of the government as well.

Keep in mind that we being the citizens of India, this is our duty that has to be fulfilled without fail. Paying the tax is as important as carrying out our jobs and other daily tasks. Keep in mind it's not an easy task but its very essential. 

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Summing it up

At the very end I would like to bring it to your notice that as consumers or sellers, one should constantly spread awareness of this duty as a citizen to whomsoever you meet or be with. As a seller, you should inform the consumer, and as a buyer, you should inquire if there is more to the product than simply purchasing the product. You should be aware of the form 27C submission date if not, then do consult someone who is completely aware.

Do not hesitate to report the matter to concerned authorities in the event of any wrong doings or malpractices. We strongly suggest that if you do not have clarity as to how to go about the process to contact one of our representatives who will help you out and guide you. They will give you a complete lowdown as to how and when you can go about taking delicate measures and precautions in order to avoid a mistake.

Our representatives will also help you in matters related to investments or picking policies in order to give you the best deals you can get in the market.

Downloading the from itself is not difficult at all and If you wish to download the form you can simply visit http://www.incometaxindia[dot], and you shall receive it. You can consider form 27C online submission form any device with a working net connection, and that will be able to support basic formats.

The other way of downloading the form is by clicking on http://www.wbhealth[dot], and it will straight away bring you to the desired link which will eventually help you download the form.

To know more about from 27C, it is advised you consult an expert or you can talk to us as well. You may also search for form 27c blood bank, rule 37c, rule 37 c of income tax, in order to know more about everything related to from 27C. This will help you get a better overall understanding regarding the terms and conditions and the clauses related to 27C.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
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