TDS
This query is : Resolved
30 September 2009
Sirs,
Kindly clear my doubt.
We are selling some components to our Vendors.After assembling some parts the vendor again sold the material to us. How can we deduct TDS from 01.10.09.
Example: we sold as
Material cost Rs.100.00
(+) Excise (8%)& Cess (3%) Rs. 8.24
Sub Total Rs.108.24
(+) Tamilnadu VAT 4% Rs. 4.33
TOTAL Invoice Value Rs.112.57
After adding some parts vendor sold to us like
Material cost Rs.110.00
(+) Excise (8%)& Cess (3%) Rs. 9.06
Sub Total Rs.119.06
(+) Tamilnadu VAT 4% Rs. 4.76
TOTAL Invoice Value Rs.123.82
regarding TDS which amount we have to take.
Kindly clear my doubt.
We are selling some components to our Vendors.After assembling some parts the vendor again sold the material to us. How can we deduct TDS from 01.10.09.
Example: we sold as
Material cost Rs.100.00
(+) Excise (8%)& Cess (3%) Rs. 8.24
Sub Total Rs.108.24
(+) Tamilnadu VAT 4% Rs. 4.33
TOTAL Invoice Value Rs.112.57
After adding some parts vendor sold to us like
Material cost Rs.110.00
(+) Excise (8%)& Cess (3%) Rs. 9.06
Sub Total Rs.119.06
(+) Tamilnadu VAT 4% Rs. 4.76
TOTAL Invoice Value Rs.123.82
regarding TDS which amount we have to take.
30 September 2009
Sir,
The transaction is purely sale and purchase transaction. Hence no TDS is applicable.
The transaction does not seem to be job work either. Your vendor is not working upon the material supplied by you, rather they are merely adding more components.
In my view, TDS not attracted.
The transaction is purely sale and purchase transaction. Hence no TDS is applicable.
The transaction does not seem to be job work either. Your vendor is not working upon the material supplied by you, rather they are merely adding more components.
In my view, TDS not attracted.
30 September 2009
Agree with Mr. Shyam.
This is purely transaction of sale purchase of material.
If the Goods would have moved to vendor under rule 57F of central excise. Then the same goods has been removed for jobwork. In that case we need to go for calculations of cost of jobwork. And then TDS applicable on such cost as contractor.
This is purely transaction of sale purchase of material.
If the Goods would have moved to vendor under rule 57F of central excise. Then the same goods has been removed for jobwork. In that case we need to go for calculations of cost of jobwork. And then TDS applicable on such cost as contractor.
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
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- Disallowance of Section 43B(h) to sez units
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- 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 ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
