Sec 194Q related

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193 Points Posted on 01 May 2023
I am buyer I received goods from my seller of rupees 75. I am liable to deduct TDS because I have exceeds 10 crore previous fy 2022-23. my query is I want to deduct TDS on above fifty lakhs amount of rupees 25 lakhs. pls tell me I want to deduct TDS on including GST amount or only Taxable value.
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On 01 May 2023 at 21:11 Report
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Quick Summary
This discussion clarifies TDS deduction under Section 194Q for buyers who have exceeded the ₹10 crore threshold in the previous financial year. The key question is whether TDS should be calculated on the total invoice amount including GST, or only on the taxable value. The consensus is that TDS should be deducted solely on the taxable value of purchases, excluding any GST component.

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34 Points Posted on 01 May 2023
On 25l , Limit of 50l available for each year.
TDS deducted on Taxable value
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On 01 May 2023 at 23:09
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SEO Sai Gr. Hosp.
212506 Points Posted on 01 May 2023

No TDS over GST part.

Deduct TDS only on purchase values excluding GST.

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On 01 May 2023 at 23:10

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