TDS Deduction on gst credit note
This query is : Resolved
25 July 2023
A raise a invoice of 50000 base value + 18% gst to party B
and A Raise credit note against the upper invoice of 5000 +18% gst to party B
When B will make the payment to A then at what value B will deduct the TDS ?
and A Raise credit note against the upper invoice of 5000 +18% gst to party B
When B will make the payment to A then at what value B will deduct the TDS ?
25 July 2023
Deduct TDS after considering credit note.
25 July 2023
sir can u share the calculation tds rate 2% and under what section this process is done .
25 July 2023
It's 2% on 45000 after deduction of credit note 5000.
25 July 2023
sir can u tell the rule no in gst law or any link for this case
26 July 2023
please help on the upper question
26 July 2023
Under Section 34(1) of the CGST act 2017, a credit note is defined as a document that is issued by the supplier of goods/services to the recipient when: The issued tax invoice has charged a tax amount that is more than the amount that should be payable due to such supply. The receiver returns the supplied goods.
27 July 2023
this is applicable in case of discounting also ?
27 July 2023
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