TDS SHOULD BE DEDUCT ON TAXABLE VALUE OR INVOICE VALUE U/S 194Q

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3 Points Posted on 26 June 2021
I had a little confusion regarding this a buyer should consider the 50 lakh inclusive gst or exclusive gst, same should deduct the tds on taxable value or invoice value u/s 194Q?
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On 26 June 2021 at 13:34 Report
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Quick Summary
This discussion clarifies whether Tax Deducted at Source (TDS) under Section 194Q should be calculated on the taxable value or the total invoice value, particularly when GST is involved. The consensus is that TDS should be deducted on the value of goods exclusive of GST.

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CMA
13117 Points Posted on 26 June 2021
In case of TDS, value excluding GST
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On 26 June 2021 at 13:59
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Chartered Accountant
24588 Points Posted on 26 June 2021
It should be exclusive of GST
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On 26 June 2021 at 14:08
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403 Points Posted on 26 June 2021
TDS shall be deducted on value exclusive of GST
1 Reply
On 26 June 2021 at 14:15

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