Hi Friends,
I need Clarification Regards TDS on Job Work, When TNVAT is applicable?
Case :
ABC Company - “ Export Of Kitchen Towels “
ABC Company purchase “Yarn” and give the to Job work Contract “Mr.xxx”
After Completion of Work, “Job work Contractor “mr,xxx” raise Single bill RS 1,00,000/- + TNVAT Amount Rs 2,500/-( 5%on Rs.50,000/-(50 % of Rs 1,00,000))
Company Treated Claim VATINPUT Rs.2,500/-
Now What amount TDS is applicable – Rs.50,000/- or Rs 1,02,500/-
Please Guide Me
TDS should be on bill amount only ( Input Adjustment are not applicable for TDS case ) So for u 102500 to deduct tds
agree with Gowtham.
Always TDS is on gross amount except in case of rent.
Sir.., In that Export Company receive Bill like
Value Rs 1,00,000/-
______________
VAT 5 % 2,500/- (50,000/-)
__________
Total PAyable Rs 1,02,500 /-
____________
AS per 194C Say - TDS should Paid on only Expenses , not on Purchase
In this Case that (50 % on 1,00,000/- is MAterial )
helllo...........it never said just exp.....provision says gross amount ..................
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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