15 cb

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 February 2013 can you tell me the TDS rate as per sec 195 of the act on import of material for 15 CB form? is in Nil ?
further i want to confirm that sec 195 is applicable only on services and not on purchase of goods.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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19 February 2013 according the samsung case, the importer is supposed to check for application of 195 on all the payments made to the foreign party.

you may refer to:

A. P. (DIR Series)CIRCULAR NO03/RBI., Dated: July 19, 2007

whether TDS is applicable or not shall depend on the facts of the each case and thats the job of the CA to verify the facts of the case before advising on the TDS rate applicable.

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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19 February 2013 Sec. 195 is applicable for purchase of goods only if the foreign Co. has PE in India.

So obtain NO PE Certificate and TRC from foreign buyer before mentioning NIL in Form 15CB.

Anuj
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