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Applicability of TDS & service tax

Sumit Rai Bindlish (CHARTERED ACCOUNTANT) (41 Points)

12 April 2008

Pls clarify my query

Is company liable for deducting TDS & charging Service Tax ( Receipts > 8 Lacs ) in its 1st Year ( F.Y. 2007-08 ) ?

With Thanks & Regards

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3 Replies

(Guest)

bt now it is 10 lac............

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CA S Sundararajan (CAO) (536 Points)
Replied 13 April 2008

As a Company assessee you suppose to deduct the tax at source for the applicable cases and if your receipts doesn't exceed Rs 9 Lakhs , you should start Charge ST and remitt the same with the 5th day of next month.No need to say ST registration to be taken according to projection of receipts during the year.

Saikrishna (Service) (22 Points)
Replied 14 April 2008

Pls clarify,

Applicability of TDS on reimbursement components such as (EDI charges, Documentation cheges, Transport cheges, Loading and un loadingcheges, Delivery Order fee (AWB), repacking chages paid to Clearing agents.

Thanks

Saikrishna