Section 195(6)
This query is : Open
01 July 2009
Dear Sir,
I have received several openion regarding applicability of Section 195(6) on following transaction :
(a) Forex payment on purchase of Raw Materail
(2) Payment made on import of Plant & Machinery.
Pls help me, Is section 195(6) applicable on above transaction?
Is it mandatory to file Form 15CA & 15CB of above Transaction?
waiting for valuable expert advise.
Regards,
Baljinder Singh
I have received several openion regarding applicability of Section 195(6) on following transaction :
(a) Forex payment on purchase of Raw Materail
(2) Payment made on import of Plant & Machinery.
Pls help me, Is section 195(6) applicable on above transaction?
Is it mandatory to file Form 15CA & 15CB of above Transaction?
waiting for valuable expert advise.
Regards,
Baljinder Singh
02 July 2009
Dear Mr. Balijder,
I have been facing the same problem. I have advised from various valuable sources, but no clarity about file the form 15CA & 15CB of above transactions.
Banks are also not aware about these provisions.
At the time of online filing of form 15CA , it required that nature of remittance with filtered options for selection of it. There are only the nature of payment like commission, royalty etc on which TDS is to be deducted. There is no selection of Import of RM or Plant machinery.
Without it we can't file Form 15CA.
As per above mentioned, it seems that form 15CA is not mandatory to file for import of machinery and raw material.
I have been facing the same problem. I have advised from various valuable sources, but no clarity about file the form 15CA & 15CB of above transactions.
Banks are also not aware about these provisions.
At the time of online filing of form 15CA , it required that nature of remittance with filtered options for selection of it. There are only the nature of payment like commission, royalty etc on which TDS is to be deducted. There is no selection of Import of RM or Plant machinery.
Without it we can't file Form 15CA.
As per above mentioned, it seems that form 15CA is not mandatory to file for import of machinery and raw material.
02 July 2009
Dear Mr. Bansal,
Thaks for your reply, but I have deeply gone through the FORM 15CA which is applicable for Import of Plant & Machinery and also other head ie Membership Fees, Software purchase, in which head tds is not applicable. Under the head Plant & Machinery mention as " Remittance is directly or Indirectly carried out on such activity of supply of articles or things".
So, pls advise me it is applicable of payment made to importer for raw material.
Regards,
Baljinder Singh
Thaks for your reply, but I have deeply gone through the FORM 15CA which is applicable for Import of Plant & Machinery and also other head ie Membership Fees, Software purchase, in which head tds is not applicable. Under the head Plant & Machinery mention as " Remittance is directly or Indirectly carried out on such activity of supply of articles or things".
So, pls advise me it is applicable of payment made to importer for raw material.
Regards,
Baljinder Singh
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Inventory of finished goods
- Confusion around Form 26QB fields
- Applicability of Ind As to associate of associate
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Sale of property furniture sale
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Disallowance of Section 43B(h) to sez units
- Bogus purchase treatment for it act gst dealer
- Gst input for FY 23-24
- Company registration : Rental agreement or NOC?
- Company Incorporation - CA and directors signing from different states
- Filing of Form 10BB instead of Filing Form 10B
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
