Tax liability on machinery purcashe from other state
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 October 2013
Hello Sir/Madam,
We are purchasing a machinery (Asset) from other state for business purpose (for making machine oil). please clear following points.
1. TDS should be deduct or not.
2. as per audit point of view, what procedure/precaution we should follow.
We are purchasing a machinery (Asset) from other state for business purpose (for making machine oil). please clear following points.
1. TDS should be deduct or not.
2. as per audit point of view, what procedure/precaution we should follow.
29 October 2013
TDS is not required for purchase of machinery. You may avail cenvat credit 50% in current year and the balance in further years.
for service charges on instalation TDS is applicable only if it crosses the limit.
for service charges on instalation TDS is applicable only if it crosses the limit.
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