We have received an invoice for deducting TDS under section 194C, Total invoice value is INR33,866 (inclusive of GST), gst shown separately on invoice, but amount before GST is INR28,700/-
27 September 2019
The applicability of TDS is only for basic amount and GST amount need not be considered. if the basic amount is less than Rs.30000/- TDS need not be deducted .Please note that TDS under section 194 C will attract if single bill exceeds Rs.30,000 and total annual invoice amount exceeds Rs.1,00,000/-.
While deducting TDS , TDS is to be calculated only for the basic amount and not to be calculated for basic + GST amount.
I agree about that TDS must be deducted on the basic taxable amount before GST, it is very clear
But as it is mentioned in rule that TDS is required to be deducted on the amount paid or credited, whichever is earlier and amount paid or credited is inclusive of GST and in above question amount of 30k is corssing including GST
30 September 2019
TDS only for basic and heer we have to take into account only basic amount for the purpose of TDS and GST not to be considered for TDS
Is there any written law or notification, in which it is mentioned that only basic taxable amount would be considered to check threshold limit of 30k of single bill is crossed or not?.
CAclubindia
