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TDS on purchases of Goods 194 Q

08 June 2022

Tds on purchases of Goods u/s 194Q

While computing 50 Lakh threshold
limit, is inclusive of GST component
or excluding GST comonent.
Exact definition of 50 lakh Threshold

Pl. Guide.

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11 Replies

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 08 June 2022

It doesn't include taxes .

So base value will be considered for threshold.

You can say exclusive of GST component

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Rajkumar Gutti (591 Points)
Replied 09 June 2022

194Q says that purchase of goods of the value or aggregate of the value exceeding 50 Lack Rs. It means considering GST components also.
In short total invoice value.

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 11 June 2022

Aggregate value doesn't doesn't mean taxes but it is about all purchases made from a particular supplier

CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 16 June 2022

You have to consider value exclusive of GST, clarification was already issue by IT dept.

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 16 June 2022

@ Rajkumar ,

GST component can't be considered for Tds purposes

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CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 16 June 2022

Again. same reply

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 16 June 2022

There is difference in each reply and I think your eyes because yellow and you can't see positivity..

You behave like it's your own website and trying to dectate others just like your assistants and that doesn't work here .