Tds on vat component
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 February 2017
Hello Experts,
In audit of an educational institute, i found invoices of Xerox & printing.Vendor has charged vat on the invoice.But my client has considered it to be works contract & deducted tds u/s 194 C.Is this treatment right.& TDS , If to be deducted on what amount? Amount inclusive or exclusive of VAT?
Pllzzzz mention circular no. or section....
plzz rply
In audit of an educational institute, i found invoices of Xerox & printing.Vendor has charged vat on the invoice.But my client has considered it to be works contract & deducted tds u/s 194 C.Is this treatment right.& TDS , If to be deducted on what amount? Amount inclusive or exclusive of VAT?
Pllzzzz mention circular no. or section....
plzz rply
02 February 2017
Yes the treatment is right. VAT and TDS applicable on works contract. TDS has to be deducted including VAT but exclusive of service tax.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
02 February 2017
But i wanted to ask whether Photocopy & Printing is considered as works contract?
02 February 2017
As material and service is involved it will fall under works contract both for VAT and income tax.
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