50 LAC THRESHOLD LIMIT

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This query is : Resolved

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This discussion clarifies the £50 lakh threshold limit for Tax Deducted at Source (TDS) under Section 194Q concerning the purchase of goods. The consensus and guidance provided suggest that this threshold is exclusive of Goods and Services Tax (GST). CBDT Circular 13/2021 is cited as supporting evidence for this interpretation.

Rajkumar Gutti

Rajkumar Gutti (Querist)

15 June 2022 UNDER 194Q TDS ON PURCHASES GOODS-

IS THRESHOLD LIMIT OF 50 LAC INCLUSIVE OF GST OR EXCLUSIVE OF GST

PL.GUIDE ELBORATELY

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

15 June 2022 It's exclusive of GST.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

15 June 2022 Please refer CBDT Circular 13/2021 in support of the above observation.

Rajkumar Gutti

Rajkumar Gutti (Querist)

25 June 2022 ACCORDING MY INFORMATION 50 LAKH THRESHOLD LIMIT IS INCLUSIVE OF GST & 10 CRORE THRESHOLD LIMIT IS EXCLUSIVE OF GST UNDER 194Q
IS IT RIGHT.

CA Puja Sharma

CA Puja Sharma (Expert)

25 June 2022 In my opinion, the threshold limit of 50 Lacs is excluding GST.

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