Tds on petrol reimbursement
Querist : Anonymous
i have taken contract from xyz ltd. the xyz ltd is giving petrol reimbursement. petrol expenses incurred during completion of contract. to complete entire contract. suppose RS. 5000 petrol expenses has been incurred. then i will send the all acknowledge of petrol exp. of rs. 5000 to xyz ltd. then the xyz ltd will pay me this rs. 5000, my Query is. should i charge ST on this 5000 (petrol reimbursement) also. and does xyz ltd. liable to deduct TDS on this 5000 if yes how much percentage and which section will cover.
please reply..
Querist : Anonymous
i have giving only one bill but i have shown petrol reimbursement separate in bill
Querist : Anonymous
Querist : Anonymous
the petrol reimbursement is not my income i am just showing this petrol exp. in the bill to claim it from party. in this situation how they can deduct TDS on this. please explain in details.
also note that petrol is subject to vat.
secondly if you are giving a bill of both the things.. the party wil not only deduct tds on the service part.. they wil charge tds for the overall amount dear....!!
thats why i first asked u that wil u give separate bill for reimbursement or not...
Querist : Anonymous
i means to say suppose i have gone to petrol pump to buy petrol if petrol is RS. 70 per liter. i means to say this RS. 70 Is included vat. if i have buy petrol on the behalf of company and later i have also claim this RS. 70 from company. in this case how can i charge service tax on this petrol exp. and how that company can deduct TDS on petrol exp. which is not my service part.
your response is awaited
read the said case dear... i m sure ur doubts wil b cleared
Querist : Anonymous
Querist : Anonymous
after the abatement of section 67 the ST is to be charged on the reimbursement of expenses. is it true....
please clarify
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