S.Kondaiah (Asst Manager Finance & Accounts ) (39 Points)
05 July 2018
Ravi SADhiyan
(Practice)
(4510 Points)
Replied 05 July 2018
| Originally posted by : S.Kondaiah | ||
 |
Dear Sir We will pass RCM Entry can we deduct TDS On Basic value. Please give me suggestion.If We deducted is it wrong or right. |  |
Yes You deduct TDS on Basic Value.
Jeeva Thangavelu
(Student CA Final )
(609 Points)
Replied 05 July 2018
TDS on basic value is right. Generally TDS need not be deducted on the tax portion.
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 05 July 2018
TDS MUST BE DEDUCTED IF APPLICABLE
S.Kondaiah
(Asst Manager Finance & Accounts )
(39 Points)
Replied 05 July 2018
Jeeva Thangavelu
(Student CA Final )
(609 Points)
Replied 05 July 2018
Tax does not form part of income. TDS need not be deducted on tax portion whether it is Tax invoice or purchase from unregistered dealer where tax is paid under RCM.
Deepak
(student)
(36 Points)
Replied 05 July 2018
Yes u can but , Tds provsion are not applicable till now.. it has been suspended by the GST Council till 30/9/18
S.Kondaiah
(Asst Manager Finance & Accounts )
(39 Points)
Replied 05 July 2018
RAJA P M
("Do the Right Thing...!!!")
(127542 Points)
Replied 05 July 2018
S.Kondaiah
(Asst Manager Finance & Accounts )
(39 Points)
Replied 06 July 2018
Ravi SADhiyan
(Practice)
(4510 Points)
Replied 06 July 2018
| Originally posted by : S.Kondaiah | ||
|
Sir it's a RCM Invoice, Service for Transportation.If you take just Example Transfortation Charges Rs. 20,000/- GST is Rate of Tax 5 percent is Rs.1000.My Question is can we deduct TDS on Rs.20000. Is it applicable or not. | |
If Transporter give declaration under 44AE than No TDS
if No Declaration and no further transaction than No TDS
RAJA P M
("Do the Right Thing...!!!")
(127542 Points)
Replied 06 July 2018
Nitin Choudhary
(Manager- Finance)
(64 Points)
Replied 07 July 2018
TDS need not be deducted on tax portion, hence TDS to be deducted on basic value only.
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