Tds on gst urgent
ajeet singh (1392 Points)
29 September 2019
if supplier/rental/lease have no gst no and amt paid is more than 2.5lakh in such case tds on gst is applicable or not
7 Replies
RAJA P M
("Do the Right Thing...!!!")
(128111 Points)
Replied 29 September 2019
No... TDS under GST not applicable as per above said Query.
Kapadia Pravin
(17264 Points)
Replied 30 September 2019
TDS deduction is applicable on amount (without adding GST)
TDS deduction is not applicable on GST amount.
TDS deduction is not applicable on GST amount.
ajeet singh
(1392 Points)
Replied 30 September 2019
The supplier dont have gst no and amunt is 58000pm building on rent ddo have to deduct tds on gst more than 2.5lkh payment
Kapadia Pravin
(17264 Points)
Replied 30 September 2019
As such there is no TDS on GST.
The query is confusing .
what exactly is your query ?
The query is confusing .
what exactly is your query ?
ajeet singh
(1392 Points)
Replied 30 September 2019
Building on rent @ 58000pm earlier supplier raise gst bill but as his turnover is below 20lakh hi cancelled gst no and raising bill without gst. earlier on gst bill tds on gst @ 2% was deducted. but now i m confusing whether to deduct tds on gst (bill witjout gst) but exceeding 2.5lkh annul
sabyasachi mukherjee
(27858 Points)
Replied 30 September 2019
@ AJEET TDS ON GST IS NOT deducted.
COMPUTE TDS ON RENT PAID OR PAYABLE.
EVEN IF YOU HV NOT PAID THE RENT.
CALCULATE TDS @ 10%.
SEC 194 I.
EVEN IF YOU HAVE NOT PAID.
THE LIABILITY ACCRUES IN THE MONTH ON WHICH THE EXPENSES HV ACCRUED.
PAy
THE TDS AMOUNT.
COMPUTE TDS ON RENT PAID OR PAYABLE.
EVEN IF YOU HV NOT PAID THE RENT.
CALCULATE TDS @ 10%.
SEC 194 I.
EVEN IF YOU HAVE NOT PAID.
THE LIABILITY ACCRUES IN THE MONTH ON WHICH THE EXPENSES HV ACCRUED.
PAy
THE TDS AMOUNT.
Kapadia Pravin
(17264 Points)
Replied 30 September 2019
@ ajeet
If payer of the rent is individual /proprietory concern (not under tax audit) then no TDS deduction is required even if Annual rent exceeds 2.50 lakhs. (under 194I)
Otherwise TDS has to be deducted under 194I
and it is as under -
"
Rent payer shall , at the time of credit of such rent to the account of the payee or at the time of payment in cash or by the issue of a cheque or by any other mode, whichever is earlier, deduct TDS thereon at 10% under 194I"
@
There is no such thing as accrual in the Section 194I.
If payer of the rent is individual /proprietory concern (not under tax audit) then no TDS deduction is required even if Annual rent exceeds 2.50 lakhs. (under 194I)
Otherwise TDS has to be deducted under 194I
and it is as under -
"
Rent payer shall , at the time of credit of such rent to the account of the payee or at the time of payment in cash or by the issue of a cheque or by any other mode, whichever is earlier, deduct TDS thereon at 10% under 194I"
@
There is no such thing as accrual in the Section 194I.
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