26 September 2017
Am receiving professional fees 29000/- and it's GST 5220 .So the total value of my invoice including GST is 34220.
in this case whether I have to deduct TDS under 194j ( in excess of 30,000)?
26 September 2017
No. TDS not required to be deducted as amount excluding GST is below threshold limit. TDS is applicable on amount excluding GST.
CBDT has clarified through Circular No. 23/2017 that if GST on services has been indicated separately in the invoice, then no tax would be deducted on GST component.
Link of Circular: http://www.incometaxindia.gov.in/communications/circular/circular_23_2017.pdf
CAclubindia
