TDS Including Excise?
This query is : Resolved
28 March 2008
If a manufacturing co sells goods
does other Buyer need to deduct TDS includiong Excise duty and Other Taxes ?
I mean IN service Industry we Deduct TDS including service tax so do we need to deduct TDS Same Way ?
does other Buyer need to deduct TDS includiong Excise duty and Other Taxes ?
I mean IN service Industry we Deduct TDS including service tax so do we need to deduct TDS Same Way ?
28 March 2008
YES TDS TO BE DEDUCTED INCLUDING SERVICE TAX
28 March 2008
YES TDS DEDUCTIBLE AFTER ADDING ALL DIRECT OR INDIRECT TAXES.
BUT A MANUFACTURER SELLS GOODS AFTER ADDING EXCISE DUTY AND SALES TAX,BUT WHERE IS THE NEED FOR HIM TO DEDUCT TDS.
PL.STATE IN WHAT CONTEXT TDS IS DEDUCTED IN A CASE WHERE EXCISE IS ADDED TO BASIC PRICE OF GOODS.
R.V.RAO
BUT A MANUFACTURER SELLS GOODS AFTER ADDING EXCISE DUTY AND SALES TAX,BUT WHERE IS THE NEED FOR HIM TO DEDUCT TDS.
PL.STATE IN WHAT CONTEXT TDS IS DEDUCTED IN A CASE WHERE EXCISE IS ADDED TO BASIC PRICE OF GOODS.
R.V.RAO
01 April 2008
Hello friend
Let us not be that friendly towards revenue that we start paying taxes on everything we think will attract
Excise duty is on manufacture and payable on sale , it is a transaction of purchase and not a service or a professional advise in any mannter
Deducting TDS on such transaction will only violate the principles of taxation as this is not covered.
This transaction is subject to vat which is payable on purchase
Let us not be that friendly towards revenue that we start paying taxes on everything we think will attract
Excise duty is on manufacture and payable on sale , it is a transaction of purchase and not a service or a professional advise in any mannter
Deducting TDS on such transaction will only violate the principles of taxation as this is not covered.
This transaction is subject to vat which is payable on purchase
10 October 2009
Is this old query still pending?
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?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- 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
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
