26 June 2013
1. Abc co. purchased steel material of Rs. 240000 ( Including vat 14.5% )
Then on the time of payment we are paid the actual tax - invoice amount with detucting the Tds rate on the total sum of Tax - invoice to vendor but question is i,e vat & Tds is going in the Government treasury.
My quest. is that when we calculating the tds rate we want to calculate on the actual materil price Or including vat price
if Including vat Or service tax why ?
Please guide me on this case with vat,tds & service tax solutions.
CAclubindia
