Tds on 194i (renting of plant& machinery)
This query is : Resolved
04 February 2014
A Company has taken machinery for rent
and decucting 2% TDS u/s 194I(on bill value including service tax)
My question is company has to deduct TDS including Stax or excluding S tax?
and decucting 2% TDS u/s 194I(on bill value including service tax)
My question is company has to deduct TDS including Stax or excluding S tax?
04 February 2014
Company has to deduct TDS on amount of bill excluding Service Tax.
04 February 2014
Under both the rules. Earlier only i94I was covered. Now all sections are covered. TDS on payments under all sections should be deducted on amount excluding service tax.
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04 February 2014
Sir please clarify the following
Can a company take input of VAT paid on (materials purchase value + freight. For ex: supplier charged in the invoice as Material 100000 Freight 500 Vat 5%(on 100500)= 5025? company paid 5025 vat to supplier my question is can we avail vat paid on freight(rs.25)as input credit or not?
Can a company take input of VAT paid on (materials purchase value + freight. For ex: supplier charged in the invoice as Material 100000 Freight 500 Vat 5%(on 100500)= 5025? company paid 5025 vat to supplier my question is can we avail vat paid on freight(rs.25)as input credit or not?
04 February 2014
If you paid VAT on Rs 100500 than you can avail the input of same amount. Please take view of other expert also in this matter.
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