16 June 2016
I've Seen one Invoice that Resource cost & Service Charges on Resource Cost & ST Charged @14.5%. While accounting invoice we have to deduct TDS on Invoice amount Excluding ST. TDS has to deduct @10% but in agreement they clearly mentioned that TDS should be deduct on Service Charges not on Resource cost as per agreement we deducted TDS only on service charge @10%. But other invoices of same vendor without knowing about that clause in agreement TDS deducted on Invoice amount excluding ST (Resource Cost+Service Charges). TDS returns also filed. Now any problem will arise Need solution??????
16 June 2016
tDS will applicale on the total invoice cost not on the service charges. its not the commission. you have to deduct the tds w/o service tax on total amount. any agreement not go out of law.
CAclubindia
