TDS Including Excise?
This query is : Resolved
28 March 2008
If a manufacturing co sells goods
does other Buyer need to deduct TDS includiong Excise duty and Other Taxes ?
I mean IN service Industry we Deduct TDS including service tax so do we need to deduct TDS Same Way ?
does other Buyer need to deduct TDS includiong Excise duty and Other Taxes ?
I mean IN service Industry we Deduct TDS including service tax so do we need to deduct TDS Same Way ?
28 March 2008
YES TDS TO BE DEDUCTED INCLUDING SERVICE TAX
28 March 2008
YES TDS DEDUCTIBLE AFTER ADDING ALL DIRECT OR INDIRECT TAXES.
BUT A MANUFACTURER SELLS GOODS AFTER ADDING EXCISE DUTY AND SALES TAX,BUT WHERE IS THE NEED FOR HIM TO DEDUCT TDS.
PL.STATE IN WHAT CONTEXT TDS IS DEDUCTED IN A CASE WHERE EXCISE IS ADDED TO BASIC PRICE OF GOODS.
R.V.RAO
BUT A MANUFACTURER SELLS GOODS AFTER ADDING EXCISE DUTY AND SALES TAX,BUT WHERE IS THE NEED FOR HIM TO DEDUCT TDS.
PL.STATE IN WHAT CONTEXT TDS IS DEDUCTED IN A CASE WHERE EXCISE IS ADDED TO BASIC PRICE OF GOODS.
R.V.RAO
01 April 2008
Hello friend
Let us not be that friendly towards revenue that we start paying taxes on everything we think will attract
Excise duty is on manufacture and payable on sale , it is a transaction of purchase and not a service or a professional advise in any mannter
Deducting TDS on such transaction will only violate the principles of taxation as this is not covered.
This transaction is subject to vat which is payable on purchase
Let us not be that friendly towards revenue that we start paying taxes on everything we think will attract
Excise duty is on manufacture and payable on sale , it is a transaction of purchase and not a service or a professional advise in any mannter
Deducting TDS on such transaction will only violate the principles of taxation as this is not covered.
This transaction is subject to vat which is payable on purchase
10 October 2009
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