Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Related GST TDS

20 May 2022

One of the inquiry related to GST TDS DEPARTMENT THEY DEFECTED 2.5 LAKH OF 2% ON SACTION ORDER VALUE OR TAXABLE VALUE BECAUSE DEPARTMENT THEY RECORDED THERE SYSTEM ON SACTION ORDER VALUE AND TAXABLE VALUE RECORD ONLY IN INVOICE BILL IN THAT CASE WHICH ONE WILL FOLLOW

Reply
Follow
Share

9 Replies

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 20 May 2022

GST Tds is applicable on the base value if the value of contract exceeds 2.4lacs

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

Mohin laskar (131 Points)
Replied 20 May 2022

Means INVOICE TAXABLE VALUE IS 2.5 LAKH & GST RATE SUPPOSED 12% 30000 total Net Value is 280000 that's is the invoice record of party bill but department saction Order Value is Show 280000 to bill create on department in that case which one is following 2.5 or 2.8 on GST TDS as per rule is 2.5 but that record only mentioned in party invoice but department section order follow it's recorded 2.8 value

1 Like

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 20 May 2022

Taxable value is 2.5lacs .

GST Tds is not applicable

1 Like

Mohin laskar (131 Points)
Replied 20 May 2022

Yes i know but you didn't understand my question

1 Like

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 20 May 2022

I understood it but you have to convince them .

For GST Tds purposes you have to follow the GST Tds rules and not the particular organization internal rules

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

Mohin laskar (131 Points)
Replied 20 May 2022

Not sir means taxable value is 2.6 lakh and section order is 2.8 lakh but 2.6 is recorded on invoice value only but in department record 2.8 section order which one can follow to deduct GST TDS

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 20 May 2022

Depart order total amount payable to party and which is not relevant for GST Tds purposes.

One must consider only 2.6lacs for GST Tds purposes.

Tax Invoice is the base and not the internal documents

1 Like