TDS ON PURCHASE (U/S 194Q) Turnover Limit

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This discussion addresses the applicability of TDS on purchases under Section 194Q, which came into effect on 1st July 2021. The key question is whether the Rs. 10 crore turnover threshold for buyers includes GST. The consensus is that the Rs. 10 crore limit refers to turnover or gross receipts from the buyer's business, excluding GST.

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(Querist)
19 June 2021 TDS on purchase applicable u/s 194Q wef 01/07/2021 for Turnover Rs. 10 Cr. or more. This limit of Rs. 10 Cr. is with GST or without GST , please advise
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CMA Poornima Madhava

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CMA Poornima Madhava (Expert)
19 June 2021 As I understand, this limit does not include GST.
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
21 June 2021 Turnover / Gross Receipt/ Sales from the business of BUYER should exceed Rs 10 crore during the year (FY 20-21) (excluding GST)
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