Taxable Amount + GST = Total Amount.
If I deduct TDS on total amount in place of taxable amount is there any violence of law. Dose any problem arise in future??
6 Replies
CA Subhankar Basu
(Chartered accountant )
(318 Points)
Replied 03 June 2021
TDS applicable on taxable income of recipient ..Gst component not at all income of recipient , ultimately they pay the Gst to govt ...thatwhy in context one provision taken place you cant deduct TDS on Gst component......
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 03 June 2021
If you have already deducted it just pass on the benefit to the seller.
From future deduct only from taxable value.
Since you have deducted excess there is no violation of law as long as you deposit the same and file it in the TDS return.
From future deduct only from taxable value.
Since you have deducted excess there is no violation of law as long as you deposit the same and file it in the TDS return.
CA Subhankar Basu
(Chartered accountant )
(318 Points)
Replied 03 June 2021
Yes I agree with Zafar ,but prevention is better than cure ....try to adhere the provision , otherwise you have to fulfill extra statutory compliance
Sivaramaraju G
(Learner)
(2398 Points)
Replied 04 June 2021
No problem as it goes ultimately to the deductee.
but you should go with law so follow as per law in future as said by our co-members.
but you should go with law so follow as per law in future as said by our co-members.
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 04 June 2021
No violation of provisions of law for excess deduction. However, the deductee might object to it. In respect of the transaction that has already been done, if you are able to convince the deductee no problem I think.
CA.S.Pradeep B.Com.,FCA.,
(CA in practice)
(105 Points)
Replied 06 June 2021
TDS is applicable only on taxable amount.TDS wrongly deducted on GST portion can be rectified by filling revised return.
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