Respected experts
which amount taken to TDs work out to 194Q?
Whether Invoice value or Taxable value
Suppose If yes taxable value, Do i make compute with taxable value including other changes like Freight charges, loading and unloading?
For example
Taxable value +If any loading charges or freight charges + GST components=Invoice value.
which amount taken?
kindly share to us.
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About TDS 194Q
Replies (7)
GST will not be considered.
Is GST charges on taxable value or on freight also ?
Is GST charges on taxable value or on freight also ?
194q relates only goods not servics.
Taxable value of goods can include the other charges which are necessary to bring the goods to the receipient location.
So 194Q can be applied on taxable value of goods + other charges but you may exclude GST..
So 194Q can be applied on taxable value of goods + other charges but you may exclude GST..
TDS UNDER SECTION 194Q
PURCHASE TRANSACTION IN RS. EXCEEDS 50 LAKHS IN CURRENT YEAR.
AND BUYER TURNOVER IN LAST YEAR IS EXCEED 50 CRORE.
THEN TDS DEDUCTION AT THE RATE OF 0.1%
IF PAN NOT Provide SELLER THEN TDS AT THE RATE OF 5%
PURCHASE TRANSACTION IN RS. EXCEEDS 50 LAKHS IN CURRENT YEAR.
AND BUYER TURNOVER IN LAST YEAR IS EXCEED 50 CRORE.
THEN TDS DEDUCTION AT THE RATE OF 0.1%
IF PAN NOT Provide SELLER THEN TDS AT THE RATE OF 5%
Only ignore GST amount. include freight.
Base value + other charges except taxes will be relevant for 194Q
Dear members
Thank you to all for sharing your opinion and spent your valuable time and clearly my doubts.
Thanks & RegardsR
R. Mahendravarman
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