Dear Experts,
We have purchased material from our supplier
Invoice value is Rs.5782000
Material value is Rs.4900000
My question is do we need to deduct TDS u/s 194Q and on which amount
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TDS u/s 194Q on material value ofRs.4900000 and Invoice value of Rs.5782000
Replies (3)
Yes! on 5782000
In the above query, if the difference amount of Rs. 882000 is GST component, then TDS is not required to be deducted.
If the GST portion is not mentioned in the invoice, then the TDS to be deducted will be 0.1% of amount exceeding Rs. 50 lakhs. i.e. 782000*0.1%= Rs. 782.
If the GST portion is not mentioned in the invoice, then the TDS to be deducted will be 0.1% of amount exceeding Rs. 50 lakhs. i.e. 782000*0.1%= Rs. 782.
Tds is not applicable because Taxable value is below Threshold limit Rs.5000000....
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