Commission or Brokrege
Faheem Akram (802 Points)
26 December 2018
If I pay Commission..... (50000 included GST 18%) so i'll deduct 5% TDS u/s 194H on 50000 value or after deduct GST Amount
10 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 26 December 2018
5% Tds under 194H should be on 41000/- excluding or after deducting GST amount . please confirm with other also .
Subrato
(Chartered Accountant)
(710 Points)
Replied 26 December 2018
The amount you get after deducting GST, deduct TDS from that amount.
eg : 50,000 - 18% GST = 41000
41000 * 5% TDS = 2050 (TDS Amount)
Payable amount will be 50,000 - 2050 amount.
Hope it helps you.
Aman Kumar
(Accounts Executive)
(744 Points)
Replied 26 December 2018
No,TDS deduct on basic value,
Basic Amount = 50000*100/118
=42373/-
Your Basic = 42373
GST 18 % = 7627
Total Invoice = 50,000/-
So you deduct TDS on 42373*5% = 2119
Payble Amount = 50000-2119
= 47881/-
Subrato
(Chartered Accountant)
(710 Points)
Replied 26 December 2018
Your calculation is not wrong.
Check this calculation again:
50000*100/118 =42373/-
VENKAESHA K S
(ACCOUNTS AND AUDIT EXECUTIVE )
(38 Points)
Replied 26 December 2018
PFB
INVOICE PAYABLE A/C - 47,881(50000-2119)
TDS PAYABLE A/C - 2,119(42373*5%)
GST PAYABLE A/C - 7,627(42373*18%)
pritesh
(CA Final student)
(7101 Points)
Replied 26 December 2018
Tds to be deducted on taxable value not on invoice value which contains any taxes that to be paid to govt
Balram Choudhary
(Sr. Accountant)
(112 Points)
Replied 27 December 2018
Tds is applicable on basic amount mean excluding GST amount.
Thus,
If you pay Commission of Rs.50000/- including GST,Current rate of gst on service is 18%,So arive at Basic used formula 50000*100/118=42373 less TDS @ 5% =2119/-.
RAMA RAJU RAMAIAH
(Advocate-Tax consultants)
(58 Points)
Replied 27 December 2018
agree with Aman Kumar
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