tds on raw material purchase
This query is : Resolved
12 June 2011
Our company purchasing some of raw material from his customer and finished components sale to it again. Custer make payment after deducting TDS. Please clarify is it correct ? on what ground ? and if yes what is the tds rate ?
12 June 2011
Whats material you are purchasing on which TDS/TCS deducted.
12 June 2011
If I understood correctly- Your Company is purchasing goods from a party who buys back the finished product in which the goods purchased by your company from such customer is used as a raw material.
Both the transactions are separate and on principal to principal basis. No TDS is deductible.
Both the transactions are separate and on principal to principal basis. No TDS is deductible.
12 June 2011
Sir Suresh Ji and Ram JI....
If I am not wrong then even if the transaction is on principal to principal basis but the things are very similar to a job worker....and for this case of Excise in case of DCM ltd. can be reffered and if that holds good here then ddeductiong tds is correct...but yes more things can get clear on knowing the full and factual position
If I am not wrong then even if the transaction is on principal to principal basis but the things are very similar to a job worker....and for this case of Excise in case of DCM ltd. can be reffered and if that holds good here then ddeductiong tds is correct...but yes more things can get clear on knowing the full and factual position
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales return eway bill
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- REGARDING GST LIABILITY/....
- Last year TDS Claim
- GST Registration Horse racing
- Small dealers gst returns filing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Free lancer income
- Long Term Service award taxability in hands of company
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
