hi
my company received a bill as below:
materials used 50000
vat @ 4% 2000
services provided 100000
service tax 10300
transport charges 5000
reimbursement expenses (other than tax) 2500
what shld be the tds amount?
pls reply asap.
Student (b) (875 Points)
07 June 2010hi
my company received a bill as below:
materials used 50000
vat @ 4% 2000
services provided 100000
service tax 10300
transport charges 5000
reimbursement expenses (other than tax) 2500
what shld be the tds amount?
pls reply asap.
CA.G.Muguntha Narayanan
(Internal Auditor at TVS Motors)
(2195 Points)
Replied 07 June 2010
Dear Kirti.
The amount on which TDS is to be applied i Rs.117800
Huzefa Hussain
(Chartered Accountant)
(143 Points)
Replied 07 June 2010
Hey Kriti if In the Invoice Material Expenses are seperately Mentioned than the TDS will be charged upon Service Charges + Service Tax + Transport Charges + Reimbursed Exp i.e Total Rs 117800. and if there is no seperate bill for the amount of material than on the whole amount including material.
Bhavik Davda
(Proprietor)
(238 Points)
Replied 07 June 2010
Dear Kirti,
The TDS is to be deducted on the amount of services and any amt. in lieu of the receiving those services, Generally TDS is not to be deducted on the re-imbursement of expenses. In your case the material charges of Rs. 50,ooo has no effect of TDS (AS u received invoice mentioning the material part saperately -as information, lets move to Service charges.
1. Professional services + Service Tax+Transport Charges.
No TDS needs to be claimed on the Outof pocket expenss- since the invoices of out of pocket expenses are in your name only.
Jagdish Bhalia
(Practicing CA)
(453 Points)
Replied 07 June 2010
Agree with Mr. Mukund TDS is to be deducted on amount 117800/- .
nishant
(student)
(53 Points)
Replied 07 June 2010
If the said bill is for the works contract , on wat amt should be tds if material and service charges are mentioned separately ?
varun gupta
(Senior Accounts Officer)
(89 Points)
Replied 07 June 2010
Yes mukund is absolutely correct.
Vivek Palande
(Student)
(60 Points)
Replied 07 June 2010
EXception
Payment made to the trasporter, TDS is not required to be deduct if PAN is Provided by the transporter
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 08 June 2010
| Originally posted by : kirti | ||
 |
hi my company received a bill as below: materials used 50000 vat @ 4% 2000 services provided 100000 service tax 10300 transport charges 5000 reimbursement expenses (other than tax) 2500 what shld be the tds amount? pls reply asap. |
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As rightly mentioned by many members that TDS should be deducted excluding Purchase of any material or asset. For this there is a judgement in Haryana Power Generation Corporation Ltd v ITO (2007)
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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