Sir/ Madam,
Please anyone guide me,
We supplied some components-X (through Returnabe DC) to the vendor, Then they add one more component -Y and assembled (XY) the all and Invoiced to us.
They charging the price in invoice (both assembling cost and cost of the component what they add).
Then charging VAT 4%.
for example : our component X Rs. 0
Their component (i.e Y plus labour charge) Rs. 100
Total (assembled) XY Rs. 100, Plus:VAT 4% 4 , Total Bill Value Rs. 104/-
Whether this is correct.
Or
whether we have to deduct TDS for Rs. 100
CAclubindia
