Tax liability on machinery purcashe from other state

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 October 2013 Hello Sir/Madam,

We are purchasing a machinery (Asset) from other state for business purpose (for making machine oil). please clear following points.

1. TDS should be deduct or not.
2. as per audit point of view, what procedure/precaution we should follow.

CA Suresh kumar panda

CA Suresh kumar panda (Expert)
Follow

29 October 2013 TDS is not required for purchase of machinery. You may avail cenvat credit 50% in current year and the balance in further years.

for service charges on instalation TDS is applicable only if it crosses the limit.