Tds on freight payment to suppliers / transporters
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 July 2012
A Company is making payment of Rs. 25 lacs towards the freight incurred for transporting of raw materials by lorries.
The Question is:
(a) Whether TDS will be deducted on the above payment? If yes, then at what rate?
(b) Whether Service Tax is required to be paid? If yes then at what rate?
The Question is:
(a) Whether TDS will be deducted on the above payment? If yes, then at what rate?
(b) Whether Service Tax is required to be paid? If yes then at what rate?
25 July 2012
Sir
a) No TDS need to be deducted on any amount of Freight paid to transporter as per recent notification subject to condition that PAN of Transporter is obtained, otherwise deduct TDS @ 20%
b) pay service tax at the rate of 12.36% on 1/4 of total Freight paid. Also, no need to pay freight on Bills of less than Rs. 750.
a) No TDS need to be deducted on any amount of Freight paid to transporter as per recent notification subject to condition that PAN of Transporter is obtained, otherwise deduct TDS @ 20%
b) pay service tax at the rate of 12.36% on 1/4 of total Freight paid. Also, no need to pay freight on Bills of less than Rs. 750.
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?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- 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
- Inventory of finished goods
- Tds on building rent monthly
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- 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?
Trending Online Classes
CAclubindia
