TDS on Credit Note
This query is : Resolved
Quick Summary
Kumar Abinash
(Querist)
13 January 2020
Hello All,
I've a couple of doubts in understanding TDS application in Credit Note. Hope you can clarify it.
Consider I've a tax invoice
Invoice 1
Base Amount : 100
GST : 18
TDS : 10
-----------------------
Total Payable : 108
1. So if the seller has to issue a credit note the above
A. Will the credit note be of 108 or 118?
B. In case I do not want to transact with the seller/vendor anymore, will he issue me a credit note of 108 / 118? And much cash will I receive from the vendor?
C. How does the seller/vendor deal with TDS?
D. When I apply my credit note for the above invoice in a new invoice (Invoice 2), will I apply 108 against the invoice payable value(excluding the TDS) or will I apply 118?
Its very confusing for me on how the reconciliation will work for TDS.
Please help me out.
Thanks in advance.
I've a couple of doubts in understanding TDS application in Credit Note. Hope you can clarify it.
Consider I've a tax invoice
Invoice 1
Base Amount : 100
GST : 18
TDS : 10
-----------------------
Total Payable : 108
1. So if the seller has to issue a credit note the above
A. Will the credit note be of 108 or 118?
B. In case I do not want to transact with the seller/vendor anymore, will he issue me a credit note of 108 / 118? And much cash will I receive from the vendor?
C. How does the seller/vendor deal with TDS?
D. When I apply my credit note for the above invoice in a new invoice (Invoice 2), will I apply 108 against the invoice payable value(excluding the TDS) or will I apply 118?
Its very confusing for me on how the reconciliation will work for TDS.
Please help me out.
Thanks in advance.
KAVIRAJA ADDANGADI
(Expert)
13 January 2020
A. credit note should be issued 118/-
B. Vendor will issue CN for 118/_
B. Vendor will issue CN for 118/_
Amol S Joglekar
(Expert)
14 January 2020
please let me know if the TDS is deposited?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- Nursery business
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- ETDS return q4 25-26
- GST input credit on commercial property
- Intimation under section 245
- Section 269ST applicability for capital introduced by partner to his partnership firm
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
