Sir,
Should we deduct TDS excluding Service Tax only or other tax (like: VAT, CST, CESS etc, while making payment to Vendor .
Thankyou
Yogendra Chettri.
CA Mehul Chudasama
(Chartered Accountant)
(618 Points)
Replied 25 January 2016
You Have To Deduct Excluding Service Tax Amount And Not Other Tax Like VAT Etc.
Bhavesh
(Service)
(49 Points)
Replied 25 January 2016
Bhavesh
(Service)
(49 Points)
Replied 25 January 2016
Bhavesh
(Service)
(49 Points)
Replied 25 January 2016
ASHISH BHARADWAJ
(Finance Professional)
(146 Points)
Replied 25 January 2016
CA. Roopali Kadam
(Jobs on assignment basis.)
(1459 Points)
Replied 26 January 2016
Vignesh Selvaraj
(Student CA IPC / IPCC)
(22 Points)
Replied 27 January 2016
CA Mehul Chudasama
(Chartered Accountant)
(618 Points)
Replied 27 January 2016
TDS should be deduct including VAT amount but not service Tax
CA Mehul Chudasama
(Chartered Accountant)
(618 Points)
Replied 27 January 2016
This is as per new circular 01/2014 dated 13.01.14 issued by Central Board of Direct Taxes, India to get exemption on TDS on service Tax.
NO TDS ON SERVICE TAX IF SHOWN SEPARATELY UNDER ALL SECTION ON PAYMENT TO RESIDENT .
Hence TDS is to be calculated on the Basic Amount + VAT (if applicable - In case of Work Contract Tax) and not on the Gross Amount.
OR TDS is to be calculated only on the Basic Amount (if VAT is not applicable).
Service Tax component is to be excluded from TDS calculation.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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