Tds on service tax under reverse charge mechanism
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 February 2013
Whether TDS is to be decucted on Service Tax portion under reverse charge mechanism. Eg:
Sitting fees Dr 20000
S.Tax Input (Rev. charge)Dr2472
To, Service Tax Payable(Rev.chgs)2472
To,Sitting fees payable 20,000
To TDS Payable ????????????
Whether TDS to be deducted on Rs.20,000/- or on Rs.22,472/-
Pls. suggest
Sitting fees Dr 20000
S.Tax Input (Rev. charge)Dr2472
To, Service Tax Payable(Rev.chgs)2472
To,Sitting fees payable 20,000
To TDS Payable ????????????
Whether TDS to be deducted on Rs.20,000/- or on Rs.22,472/-
Pls. suggest
CA PARAS BAFNA
(Expert)
04 February 2013
The amount payable to the person is Rs 20000/-only. Service Tax has to be deposited with the Govt. So TDS is to be deducted on Rs. 20000/-.
CA Prashant Gupta
(Expert)
04 February 2013
I believe in sitting fee, director didn't charge any service tax. so in reverse charge you calculate service tax Rs. 2472/-
in this case you will deduct TDS only on 20000. because you paid only this bill.
in this case you will deduct TDS only on 20000. because you paid only this bill.
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