194 Q DEDUCTION
This query is : Resolved
27 June 2021
Can any one clarify the new TDS 194 Q.
How to deducted the TDS before GST value or full invoice value ?
The 50 Lakh threshold limit is including GST?
How to deducted the TDS before GST value or full invoice value ?
The 50 Lakh threshold limit is including GST?
28 June 2021
Before GST. 50 Lakhs do not include GST amount.
28 June 2021
Section 194Q is to be made with reference to the purchase value, & GST shall form part of the purchase value, therefore, the TDS is deductible on the purchase value inclusive of GST.
28 June 2021
Tax at source u/s 194Q to be deducted on the value excluding GST (on the basis of a circular from CBDT in respect of TDS on services). Thus the threshold limit of Rs.50 lacs does not include GST component in it.
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