Tds on highseas purchase
This query is : Resolved
21 November 2013
Our co. has purchased goods through highseas seller...he has send the bill of Rs.100000 and a seaparate bill of clearance and storage of goods of Rs.15000 (including service tax).
Whether TDS to be deducted on this separate bill or should be booked as purchase
Whether TDS to be deducted on this separate bill or should be booked as purchase
21 November 2013
Hello CA Parul
In this case the amount of Rs.15,000/- charged by the vendor is for the service provided by him towards clearance of goods and storage of the same i.e C&F Agent Service. Such amount is not a part of purchases but Direct Expenses.
Hence according to me TDS has to be deducted U/S 194C
In this case the amount of Rs.15,000/- charged by the vendor is for the service provided by him towards clearance of goods and storage of the same i.e C&F Agent Service. Such amount is not a part of purchases but Direct Expenses.
Hence according to me TDS has to be deducted U/S 194C
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