Tds on 194i (renting of plant& machinery)

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Arun (Querist)
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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?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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04 February 2014 Company has to deduct TDS on amount of bill excluding Service Tax.

Arun

Arun (Querist)
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04 February 2014 As per new rule which came on 2014 or as per old rule?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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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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Arun

Arun (Querist)
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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?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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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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