Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

194 q applicability

292 views

Save Share

Shiv Karwa

221 Points Posted on 14 April 2022

our sale is 9 cr gst rate on our goods 28% . is we liable to deduct tds on purchase.
what is 10 cr limit. is that taxable vallue or vallue including GST

Replies (5)

Quick Summary

This discussion clarifies the applicability of TDS under Section 194Q for purchases. The key threshold is a purchase value exceeding ₹50 lakhs per person in a financial year. Importantly, the ₹10 crore turnover limit for applicability is based on your annual turnover *excluding* GST and other taxes, and it is independent of your sales figures. If your turnover is below ₹10 crore (excluding GST), Section 194Q does not apply to your purchases.

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 14 April 2022

50Lakhs is the limit for 194Q

Shiv Karwa

221 Points Posted on 14 April 2022

We want to know when will we have to deduct tds
when our sale more then 10 cr with gst or without gst

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 14 April 2022

Turnover doesn't include GST and other taxes ..

194Q is for purchase of goods per person per annum.It has no connection with sales

Kesavaraj S

582 Points Posted on 15 April 2022

If your Turnover ( Not including GST) is less than 10 crores , TDS U/s 194Q not applicable...

narasimhan

b.com

33 Points Posted on 02 September 2022

If transaction with supplier exceeds 50 lakhs in FY 21-22 and TDS under 194Q is deducted in PY. Now in current FY 22-23 should we deduct TDS for any transactions with same supplier as the transactions did not exceed 50 Lakh in current FY. Should I have to deducted TDS under 194Q for FY 22-23?