Balendra Parmar (Finance Manager) (199 Points)
17 January 2012Dear Sir,
We have problem in booking invoice of works contract. The material Portion is 67 % and service tax portion is 33 % we have confution in applicability of TDS in both portion.We have want to charge TDS on service tax also. This is correct method? also we want to TDS on vat plus material also this is correct?
Regards,
Balendra Parmar.
Sonam Bidasaria
(CA)
(770 Points)
Replied 17 January 2012
If VAT is levied on material portion, then TDS should not be dedcuted on the materials.
Bhagwat Singh
(Finance Executive)
(21 Points)
Replied 17 January 2012
shreyas
(Trainee)
(230 Points)
Replied 18 January 2012
Take seperate invoices for material & services & deduct TDS only on service invoice. Otherwise TDS &WCT will be deducted on the entire amount of invoice.
CAclubindia
