sandeepverma
(don't make exuse for study)
(304 Points)
Replied 03 September 2011
you need to deduct TDS on this supplier including freght amt
SANYAM ARORA
(“It's hard to beat a person who never gives up.”)
(20168 Points)
Replied 03 September 2011
Yes TDS will be deducted
CS RAJESH C.CHOUDHARY
(ASSISTANT MANAGER)
(14607 Points)
Replied 03 September 2011
yes it's applicable .
TRILOCHAN
(SENIOR ACCOUNTANT)
(698 Points)
Replied 03 September 2011
TDS not applicable.
Freight paid for procuring the meterial to the factory ( if included in the supplier bill) to be booed under purchase.
eg. Fabric 100000/-
Freight 500
total : 1,00,500 to be booked under fabric purchase
Prashant Kumar Samal
(Manager)
(21 Points)
Replied 04 September 2011
No need to deduct TDS,
1) If the supplier has their own vehicle and they have PAN Number
2) Otherwise if they have paid freight to the transporter, attached GR etc and the transporter have PAN then there is no need to deduct TDS
3) If the transporter have no PAN then the party will be asked if they have deducted TDS @ 20% or not? if not, then we will deduct TDS @ 20% from the supplier.
Prashant Kumar Samal
Panipat
Ranjan Kumar Jena
(Asst.manager of Accounts)
(21 Points)
Replied 05 September 2011
Yes it is Applicable and TDS will be deducted on freight Amount.
CA.Rajesh K Sharma
(A.O.)
(32 Points)
Replied 05 September 2011
Dear !
I strongly agree with Mr.Prashant Kumar Samal,
1. freight paid will become part of cost of Material (delievery FOR at purchaser's door)
2. Rest three points to be followed strictly.
3. but also see in Contract terms & conditions that Frieght is to be re-imbursed on actual basis and LR/GR copy must be attached with Supply invoice and mentioned in invoice itself.
Ramanuj
(Accountant.)
(834 Points)
Replied 05 September 2011
TDS is not applicable on add freight amt. on supplier's purchase Bill
It is part of purchases cost.
Vinoth
(Assistant Manager Finance)
(166 Points)
Replied 07 September 2011
TDS NOT APPLICABLE FOR FRT.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
CAclubindia
