18 May 2022
Yes, TDS will be applicable if the aggregate of all bills/payment exceed Rs. 1,00,000 during the year or single bill amount exceeds Rs. 30,000
19 May 2022
With reference to the Notification No. 22/2019- Central Tax (Rate) dated 30/09/2019
If the recipient being a body corporate located in the taxable territory receives the services of renting of motor vehicle from any person other than a body corporate who is paying GST @ 2.5% CGST & SGST each, the recipient has to pay GST under RCM.
> If the person who provides the services is a body corporate - No RCM > If the person who provides the services is not a body corporate - RCM is applicable > If the person who provides the services is not a body corporate and charges GST @ 6% or more CGST & SGST each - No RCM > If the person who receives the services is a body corporate - RCM is applicable > If the person who receives the services is not a body corporate - No RCM
Yes, TDS is also applicable as per the limits as prescribed in the Income Tax act.
CAclubindia
