Delhi metro tds and wct
This query is : Resolved
05 January 2012
dear sir
our company done contract with delhi metro for Rs 100000/- and they issued cheque of Rs 85000/- after deduction of
CST 2%- 2000
Dvat/TDS 2% - 2000
Labour Cess 1%-1000
Security Deposit-10000
please suggest me:
1) how i will pass entry of the above in our books
2) how can i claim dvat/TDS as deducted by them
3)whether i have to issue bill of job work and of what amount if material used amount is 60000/-
please suggest me..its very urgent
our company done contract with delhi metro for Rs 100000/- and they issued cheque of Rs 85000/- after deduction of
CST 2%- 2000
Dvat/TDS 2% - 2000
Labour Cess 1%-1000
Security Deposit-10000
please suggest me:
1) how i will pass entry of the above in our books
2) how can i claim dvat/TDS as deducted by them
3)whether i have to issue bill of job work and of what amount if material used amount is 60000/-
please suggest me..its very urgent
06 January 2012
Mr. Anuj,
They should not do two deductions viz,CST @ 2% and again VAT @ @%, because you will be liable for any of them only.If you are in Delhi DVAT TDS is to be done @ 2%. If you are from out side Delhi area then no TDS to be done, because the TDS amount will not go to respective government of your state.If you are in Delhi, get a certificate for VAT tds and claim tax deduction in your returns. A consolidated bill is enough.
MJK
They should not do two deductions viz,CST @ 2% and again VAT @ @%, because you will be liable for any of them only.If you are in Delhi DVAT TDS is to be done @ 2%. If you are from out side Delhi area then no TDS to be done, because the TDS amount will not go to respective government of your state.If you are in Delhi, get a certificate for VAT tds and claim tax deduction in your returns. A consolidated bill is enough.
MJK
Message likes :
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07 January 2012
thanks sir....i am from punjab,they made us payment after deducting tds and vat,and i have send them letter for the same thrice.but still no reply from their side.
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