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Faheem Akram   26 December 2018

Commission or Brokrege

If I pay Commission..... (50000 included GST 18%) so i'll deduct 5% TDS u/s 194H on 50000 value or after deduct GST Amount


 10 Replies

prasad  Nilugal

prasad Nilugal (Sr . Accountant and GST Practitioner . )     26 December 2018

5% Tds  under  194H should  be  on 41000/-  excluding or after deducting  GST  amount  . please confirm with other also . 

1 Like
Subrato

Subrato (Chartered Accountant)     26 December 2018

The amount you get after deducting GST, deduct TDS from that amount.

eg : 50,000 - 18% GST = 41000

41000 * 5% TDS = 2050 (TDS Amount)

Payable amount will be 50,000 - 2050 amount.

Hope it helps you. 

Aman Kumar

Aman Kumar (Accounts Executive)     26 December 2018

No,TDS deduct on basic value,

Basic Amount  = 50000*100/118

                        =42373/-

Your Basic  = 42373

GST   18 %   =  7627

   Total Invoice = 50,000/-

So you deduct TDS on 42373*5%   = 2119

Payble Amount = 50000-2119 

                          = 47881/-      

6 Like
Subrato

Subrato (Chartered Accountant)     26 December 2018

Your calculation is not wrong. 

Check this calculation again:

50000*100/118 =42373/-

 

VENKAESHA  K S

VENKAESHA K S (ACCOUNTS AND AUDIT EXECUTIVE )     26 December 2018

PFB 

INVOICE PAYABLE A/C - 47,881(50000-2119)

TDS PAYABLE A/C - 2,119(42373*5%)

GST PAYABLE A/C -  7,627(42373*18%)

 

   

 

SkDash

SkDash (CS (Member) CWA (Final))     26 December 2018

agree with Aman
1 Like
pritesh

pritesh (CA Final student)     26 December 2018

Tds to be deducted on taxable value not on invoice value which contains any taxes that to be paid to govt
Balram Choudhary

Balram Choudhary (Sr. Accountant)     27 December 2018

Tds is applicable on basic amount mean excluding GST amount.

Thus,

If you pay Commission of Rs.50000/- including GST,Current rate of gst on service is 18%,So arive at Basic used formula 50000*100/118=42373 less TDS @ 5% =2119/-.

RAMA RAJU RAMAIAH

RAMA RAJU RAMAIAH (Advocate-Tax consultants)     27 December 2018

agree with Aman Kumar

subhagan sreerangam

subhagan sreerangam   02 August 2019

good clarification and information

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