Tax deducted at source in VAT
Sunil M L (23 Points)
03 October 2008
Can anyody explain is there any TDS on VAT or Sales Tax
CA. C V SURYAM
(Practising Chartered Accountant)
(865 Points)
Replied 03 October 2008
Yes,Dear Mr.Sunil, Very much. Every State have the provision for Deduction of Tax At Source (TDS) under their respective VAT Acts and Rules, including Sales Tax laws which is not relevant now as all the States have implemented VAT. As in Income Tax, there are proviisons, depending on the State VAT Act, for lower deduction or no deduction of TDS.
CA Nitin Wadhwani
(Chartered Accountant)
(4469 Points)
Replied 03 October 2008
Yes.
It is Known As WCT TDS.
CA PARVESH DEWAN
(CHARTERED ACCOUNTANT)
(24 Points)
Replied 10 October 2008
| Originally posted by :Sunil M L | ||
| " | Can anyody explain is there any TDS on VAT or Sales Tax | " |
CA. O.P. Agarwalla
(C.A.)
(2916 Points)
Replied 11 October 2008
Governments of most of the states had made the provisions for deduction of taxes on WC & Purchases. Eor instance section 47 in Assam.
CA. O.P. Agarwalla
(C.A.)
(2916 Points)
Replied 11 October 2008
No TDS is deductible on Inter State purchases.
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