Sales tax tds
This query is : Resolved
08 July 2009
sales tax TDS can claim as revenue expenditure in Profit & loss account
Aditya Maheshwari
(Expert)
08 July 2009
What is sales tax TDS. Sales tax can be claimed as revenue expenses.
CA. Neha Gupta
(Expert)
09 July 2009
Sales Tax TDS is deducted from Works Contract. As Sales Tax amount on material supplied in Works Contract included in Total Job Work Amount, Its amount is debited to Profit & Loss A/c. Total Sales Tax amount payable on job work will be debited. However Liability will be reduced by Sales Tax TDS and Input Tax Credit on Purchases and balance amount have to be deposited with Govt. Deptt.
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