TDS on Contractors u/s194C

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 November 2010 A Ltd. supplies certain goods to B Ltd.on freight paid basis.B ltd. pays entire amount of goods to A Ltd.How should B ltd. account for freight in his booksi.e. should he add it as a part of cost of materials or show it separately as freight inward in his books. If the freight is shown seperately in B's books would provisions of TDs u/s 194C be attracted as A ltd. is not a transporter & would B ltd. have to pay service tax.

taxindiaconnect

taxindiaconnect (Expert)
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10 November 2010 It has to booked to the cost of the material procured and there will not be any TDS liability of the B ltd as the payment of frieght is being made by A Limited to the transporter.

Rajan Kapoor

Rajan Kapoor (Expert)
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10 November 2010 It is as a part of cost of materials. No need to show it separately and no TDS in applicable to B Ltd.

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