18 August 2011
Suppose we paid US dollar 1000.00 to our foreign supplier against proforma invoice in advance. At the time of shipment they raised commercial invoice for us$ 1150.00 including air freight and the same amount shows in our Bill of Entry also. Now we have to pay the difference us$150.00 on account of freight. Is it applicable for deduction of TDS? If, so what will be the percentage of TDS?
19 August 2011
According to me , Sec 195 is only applicable for offshore services. This contract is seems to be offshore supplies on which there is no liablity to deduct TDS.
CAclubindia
