Suppose there is a transaction of value Rs.10lakhs to be paid to the Non-Resident OIDAR service provider by the recipient of India.Let us assume that Equalisation Levy has to be deducted @ 6% at the time of payment by the recipient.Also assuming that the payment falls under Sec.195 of Income Tax Act,1961 and TDS shall be made @ 30%.
On which amount does the GST is payable by the recipient on Reverse Charge basis?Does Equalisation levy and TDS u/s.195 of Income Tax Act,1961 be excluded for computing the GST component?
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