Tds

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Maintenance and repair services under HSN 998719 are generally covered under Section 194C as contract work for Income Tax TDS, deductible at 1% for individuals/HUF and 2% for others. Under GST TDS, applicable rate is 2% by specified government entities on taxable value excluding GST.

rohit chudasama

rohit chudasama (Querist)
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23 January 2019 what is the TDS on HSN code 998719 - Maintenance And Repair Services Of Fabricated Metal Products, Machinery And Equipment ??

Nilesh Gami

Nilesh Gami (Expert)
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23 January 2019 it shall be covered under work contract under section 194C and TDS is required to be deducted at 1% for Individual or HUF and 2 % for other person. It shall be at 20% in case non-pan card holders.

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A.Senthil Subramanian

A.Senthil Subramanian (Expert)
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26 January 2019 As per my understanding @ Rohit asked TDS on GST being "HSN" code marked in his query. If yes, the following may be the solution 1) TDS would be deducted when the total value of supply, under a contract, exceeds Rs. 2.5 lakhs [Section 51(1)]. 2) The deductor under GST would deduct TDS at the rate of 2% [1% CGST & 1% SGST or 2% IGST] from the payment made/credited to the supplier of taxable goods or services. 3) For the purpose of TDS on GST, value of supply would be the amount excluding CGST, SGST, IGST, UTGST and Cess, as indicated in the invoice. On the other hand, If the query is related on TDS under Income-tax, @ Nilesh Gami Explained it clearly.

Nilesh Gami

Nilesh Gami (Expert)
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28 January 2019 Agree with explanation by A. Senthil Subramanian, in addition, tds is required to be deducted by govt establishment, local authorities and govt agencies.

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