With effect from 01.07.2021, section 194Q provides that any person, being a buyer who is responsible for paying any sum to any resident (hereafter in this section referred to as the ‘seller’) for purchase of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year, shall, at the time of credit of such sum to the account of the seller or at the time of payment thereof by any mode, whichever is earlier, deduct an amount equal to 0.1% of such sum exceeding fifty lakh rupees as income-tax.

For the purposes of this sub-section, “buyer” means a person whose total sales, gross receipts or turnover from the business carried on by him exceed ten crore rupees during the financial year immediately preceding the financial year in which the purchase of goods is carried out. Central Government is empowered to exempt a person from obligation under this section by notification in the Official Gazette. Such exemption may be made subject to fulfilment of conditions as may be specified in that notification.

If any difficulty arises in giving effect to the provisions of this section, the Board may, with the previous approval of the Central Government, issue guidelines for the purpose of removing the difficulty. Every guideline issued by the Board as above shall, as soon as may be after it is issued, be laid before each House of Parliament, and shall be binding on the income-tax authorities and the person liable to deduct tax.

1.1 Definition of “Goods”

The term ‘goods’ is not defined in the Income-tax Act. The term ‘goods’ is of wide import. Anything which comes to the market can be treated as goods. However, this term ‘Goods’ has been defined under the Sale of Goods Act, 1930 and Central Goods and Services Tax Act, 2017 as under:

Sale of Goods Act, 1930

‘Goods’ means every kind of movable property other than actionable claims and money; and includes stock and shares, growing crops, grass, and things attached to or forming part of the land which are agreed to be severed before sale or under the contract of sale”

Central Goods and Services Tax Act, 2017

‘Goods’ means every kind of movable property other than money and securities but includes actionable claim, growing crops, grass and things attached to or forming part of the land which are agreed to be severed before supply or under a contract of supply”

The Sale of Goods Act, 1930 is a specific statute which deals with the ‘sale of goods’ whereas the CGST Act, 2017 deals with tax on ‘supply of goods’. Thus, the definition of term ‘goods’ can be referred to from the Sale of Goods Act, 1930 for the purpose of section 194-O.

The following pronouncements of the Supreme Court are relevant in interpreting the term “goods”:

- Marketability: To become “goods”, an article must be something that can ordinarily come to the market to be bought and sold. [UOI v. Delhi Cloth & General Mills AIR 1963 SC 791/1963 SCR Suppl. (1) 586] “. . goods ………… should have marketability…………….. In other words the goods ………… are saleable goods…..” [D. Saxena v. Balram Prasad Sharma [2000] 7 SCC 264]
- Goods may be tangible or intangible: A “goods” may be a tangible property or an intangible one. It would become goods provided it has the attributes thereof having regard to (a) its utility; (b) capable of being bought and sold; and (c) capable of being transmitted, transferred, delivered, stored and possessed. [Tata Consultancy Services State of A.P [2004] 141 Taxman 132 (SC)/BSNL v. UOI [2006] 3 STT 245/152 Taxman 135 (SC)].

The following are some of the illustrations of items that would fall within the scope of the term “goods”:

- Movable property;
- Any commodity;
- Shares or Securities [However, transactions in “shares and securities” through recognised stock exchanges exempted from section 194-O/section 206C(1H) by Guidelines issued by CBDT u/s 194-O(4). (Perhaps, similar exemption will be provided by guidelines issued under section 194Q).]
- Electricity; [However, transactions in electricity, renewable energy certificates and energy saving certificates exempted from section 194-O by Guidelines issued by CBDT u/s 194-O(4). (Perhaps, similar exemption will be provided by guidelines issued under section 194Q)]
- Agriculture produce;
- Fuel;
- Motor vehicle;
- Liquor;
- Jewellery or bullion;
- Art or Drawings;
- Sculptures;
- Scraps;
- Canned software (off the shelf computer software)-The Supreme Court in its landmark decision of Tata Consultancy Services State of A.P [2004] 141 Taxman 132 (SC) held that Canned software (off the shelf computer software) are ‘goods’.

1.2 Scope of the term ‘purchase’

The word ‘purchase’ is not defined in section 194Q of the Act nor is it defined in any of the definitional clauses of section 2 of the Act. Therefore, one has to rely on its plain meaning.

According to P.R. Aiyar’s Advanced Law Lexicon, the plain meaning of ‘purchase’ connotes “buying for a price or equivalent of price by payment in kind or adjustment towards an old debt or for monetary consideration”.

The above plain meaning fits well with the context of section 194Q as the section refers to “paying any sum….for purchase of any goods” and “payment thereof by any mode”. Section 194Q reads: “any person, being a buyer who is responsible for paying any sum …. for purchase of any goods…. , shall, at the time of credit of such sum to the account of the seller or at the time of payment thereof by any mode, whichever is earlier, deduct…”

It would be relevant to note the wordings of some other TDS sections and compare and contrast their wordings with section 194Q :

194C

“Any person responsible for paying any sum…. shall, at the time of credit of such sum to the account of the contractor or at the time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct…”

194J

Any person… who is responsible for paying… any sum by way of shall, at the time of credit of such sum to the account of the payee or at the time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct….

194LA

Any person responsible for paying… any sum… shall, at the time of payment of such sum in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct…

Sections 194C, 194J and 194LA refer to “payment… in cash or by issue of a cheque or draft or by any other mode”. The words “any other mode” in sections 194C, 194J and 194LA come after a listing of modes of payment in money and can be interpreted ejusdem generis cash/cheque/draft. “Any other mode” in these sections can’t be interpreted as payment in kind. Section 194Q, on the other hand, refers to “payment ..by any mode”.

Thus, it can be said that sections 194C, 194J and 194LA contemplate payments in money only and not in kind while section 194Q contemplates payment by any mode-even in kind.

Thus, purchase of goods paid for by any mode (even in kind) would be covered by section 194Q.

It is submitted that one cannot simply read “any sum” occurring at the beginning of section 194Q and conclude payments in kind are not contemplated. One cannot read the words “any sum” at the beginning of section 194Q de hors the other words in the section and conclude that no TDS on payment in kind is contemplated.

Check out Taxmann's TDS Ready Reckoner which provides a detailed analysis of TDS & TCS provisions and guidance on controversial topics with supporting case laws. It covers section-wise TDS chapters, queries on TDS, Charts,FAQs on Section(s) 194P/194Q & 206C(1H)&Deferment of TDS on ESOPs by Start-ups.

2. What payments are liable to TDS under section 194Q

Section 194Q applies to payment of any sum to a resident seller for purchase of any goods of the value or aggregate of such value exceeding 50,00,000 in any previous year.

It does not matter whether purchase of goods is by way of capital expenditure or by way of revenue expenditure. There is no such exemption in section 194Q from deduction of tax at source from payments for purchase of capital goods.

Further question arises whether GST Input Tax credit in respect of GST paid on purchases will have to be included/excluded for computing limit purposes and for TDS purposes? Section 145A of the Act requires inclusive basis to be adopted only for computation of income and not for TDS purposes. Section 145A and Income Computation and Disclosure Standards have no application for TDS purposes. As per generally accepted accounting principles purchase value net of GST ITC is debited to purchases account and ITC credit is debited to a separate account. Purchases value net of GST ITC as per GAAP can be reckoned for the purpose of computing the limit and also as tax base for deducting TDS. This basis is satisfactory as there are judicial decisions that payments which don’t have income embedded in them are not liable for deduction of TDS. Paying the GST amount to supplier does not result in any income in his hands.

Besides, CBDT has clarified that “wherever in terms of the agreement or contract between the payer and the payee, the component of ‘GST on services’ comprised in the amount payable to a resident is indicated separately, tax shall be deducted at source under Chapter XVII- B of the Act on the amount paid or payable without including such ‘GST on services’ component. GST for these purposes shall include Integrated Goods and Services Tax, Central Goods and Services Tax, State Goods and Services Tax and Union Territory Goods and Services Tax. [CBDT’s Circular No. 23/2017, dated 19.07.2017] CBDT must clarify whether the above clarification applicable to deduction of TDS on payments for services will also apply to deduction of TDS on payments for purchase of goods under section 194Q. Pending CBDT clarification it would be prudent and safe to deduct TDS on total value of purchases including GST.

The provisions of this section shall not apply to a transaction on which––

(a) tax is deductible under any of the provisions of this Act; and

(b) tax is collectible under the provisions of section 206C other than a transaction to which sub-section (1H) of section 206C applies.

This means, if on a transaction a TDS or tax collection at source (TCS) is required to be carried out under any other provision, then it would not be subjected to TDS under this section. There is one exception to this general rule. If on a transaction TCS is required under sub-section (1H) of section 206C as well as TDS under this section, then on that transaction only TDS under this section shall be carried out. Such a situation would arise if turnover of each of both buyer as well as seller exceeded the Rs.10 crore limit in immediately preceding financial year.

The distinction between the provisions of section 194Q and Section 206C(1H) is as follows:

*Basis of distinction*	*TDS on purchase of goods [Section194Q]*	TCS on Sale of goods [Section 206C(1H)]
Who is liable for deduction/collection	Buyer – If his total sales, gross receipts or turnover of the buyer from the business should exceed Rs. 10 crores during the financial year immediately preceding the financial year in which such goods are purchased	Seller – If his total sales, gross receipts or turnover of the collector from the business should exceed Rs. 10 crores during the financial year immediately preceding the financial year in which such goods are sold
Scope of ‘Goods’	Any goods i.e. any movable property	Goods other than Alcholic liquor for human consumption including IMFL, Tendu leaves, timber, any other forest produce, scrap, coal or lignite or iron ore, motor vehicle of value exceeding Rs.10 Lakhs
Rate of TDS/TCS	0.1%	0.1%
Amount on which tax to be deducted/collected	On the amount of purchase in excess of Rs. 50 lakhs	On the amount of sale consideration in excess of Rs. 50 lakhs
Time of deduction/collection	At the time of credit or payment, whichever is earlier	At the time of receipt
If both provisions are simultaneously applicable as turnover of both buyer and seller exceed Rs.10 cr limit in immediately preceding FY as above	Buyer is liable to deduct the tax if the transaction could be subject to both provisions. Seller is not to collect TCS under section 206C(1H)	Seller shall be liable to collect the tax only if the purchaser is not liable to deduct the tax or purchaser failed to deduct tax

Illustration

*Particulars*	*Scenario 1*	*Scenario 2*	*Scenario 3*
Turnover of Seller (In cr.)	11	5	11
Turnover of Buyer (In cr.)	5	11	11
Sale of goods (In cr.)	1.5	1.5	1.5
Sales consideration paid during the year (In cr.)	1	1	1
Which provision applicable Who is liable to deduct or collect tax?	Only section 206C(1H) Seller liable to collect TCS u/s 206C(1H)	Only section 194Q Seller not liable to collect TCS u/s 206C(1H)	Both sections 206C(1H) and 194Q Seller not liable to collect TCS u/s 206C(1H)
	Buyer not liable to deduct TDS u/s 194Q	Buyer liable to deduct TDS u/s 194Q	Buyer liable to deduct TDS u/s 194Q
Rate of Tax	0.1%	0.1%	0.1%
Amount on which tax to be deducted or collected (In Cr.)	0.5 (1 cr sales proceeds received-50 lakhs threshold limit)	1.0 (1.5 cr minus 50 lakhs threshold limit)	1.0 (1.5 cr minus 50 lakhs threshold limit)
Tax to be deducted or collected	Rs. 5000	Rs.10,000	Rs.10,000

3. Payers, who are covered by section 194Q

Section 194Q applies to any payer who is a “buyer”. For the purposes of this sub-section, “buyer” means a person whose total sales, gross receipts or turnover from the business carried on by him exceed ten crore rupees during the financial year immediately preceding the financial year in which the purchase of goods is carried out.

Buyer can be any “person” (individual/HUF/Firm/LLP/company/AOP/BOI/AJP/co-operative society) whose total sales, gross receipts or turnover from the business carried on by him exceed ten crore rupees in the immediately preceding financial year. If total sales, gross receipts or turnover of a person exceeded Rs.10,00,00,000 during financial year 2020-21, he will be a “buyer” in relation to purchase of goods from a resident seller during financial year 2021-22.

3.1. Payers (“buyers”) who are exempt from liability to deduct TDS u/s 194Q

Central Government is empowered to exempt a person from obligation under this section by notification in the Official Gazette. Such exemption may be made subject to fulfilment of conditions as may be specified in that notification.

If so exempted from section 194Q by the Central Government, “buyer” is not required to deduct TDS under this section.

4. Payees, who are covered by section 194Q

Payee covered by section 194Q is any resident from whom any goods of the value or aggregate of such value exceeding Rs. 50,00,000 are purchased during a previous year. Such resident seller shall be payee irrespective of whether or not he is a “seller” within the meaning of sub-section (1H) of section 206C or not.

If the payee-seller is a ‘seller’ within the meaning of section 206C(1H) and is liable to collect TCS on the transaction, then on that transaction only TDS under this section shall be carried out.

5. Monetary threshold of Rs.50,00,000 – How to Apply

The “buyer” should, from the start of the financial year, track value of completed purchases (deliveries received) from each resident seller and payments made to him. No TDS needs to be deducted for credit/payment of amount to the seller so long as the threshold of Rs. 50,00,000 is not crossed either in respect deliveries received from a resident seller during the financial year or in respect payments made to him. Once threshold of Rs. 50,00,000 is crossed either in respect of deliveries by him or in respect of payments made to him, TDS is liable to be deducted on “credit to seller or payment to him, whichever is earlier” basis.

The words used in section 194Q(1) are “responsible for paying any sum … for purchase of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year”, NOT “responsible for paying any sum … for any goods purchased…..”

There is a world of difference between “any sum for purchase of goods” and “any sum for goods purchased”. The former expression denotes that the purpose of payment is purchase whether completed or not. The latter denotes payment for completed purchase i.e. goods delivered. Further, as the tax is required to be deducted at the time of payment or at the time of credit, whichever is earlier, it should be reasonable to conclude that the provision may get attracted even if payment is an advance for purchase which will be completed in future by receipt of delivery of goods.

The safest way to approach compliance with this section is to track both completed purchases (deliveries) from a resident seller as also the payments made to him from the start of a financial year. If Goods received Reports (GRRs) show value of purchases based on PO and if these can be generated and aggregated supplier-wise, it would help track value of deliveries received. Also, it would be good idea to review all POs placed capital goods/project and POs placed for materials. If any of them exceeds Rs. 50 Lakhs, it would be good to keep them in separate file. The buyer has to start deducting TDS from credit or payment at the point at which either completed purchases during the financial year by way of deliveries received from him or payments made to him during the financial year exceeds Rs. 50,00,000.

Illustration 1: Suppose, a seller has delivered goods purchased/ordered from him of the value of Rs. 48,00,000 during financial year 2021-22 so far say till 31.08.2021 and payments made to him till date is Rs. 45,00,000. No TDS is required to be deducted from any credit or payment made to him upto this point. Suppose an order of Rs. 3,00,000 is placed on him and goods are delivered by him. Value of deliveries completed during the financial year is now Rs. 51,00,000 (i.e. threshold limit of Rs. 50,00,000 for financial year is exceeded by deliveries completed). At this point, buyer should start deducting TDS from any credit posted to supplier’s account or from any payment made to him on “credit to seller or payment to him, whichever is earlier” basis.

Suppose, credit posted is of Rs. 3,00,000. TDS should be deducted on excess over the threshold limit i.e. on Rs.1,00,000 at the rate of 0.1% i.e.Rs.100. The entry will be

Purchases account Dr Rs. 3,00,000

To Supplier’s account Rs. 2,99,900

To TDS Payable account Rs. 100

When TDS deducted is deposited, the supplier’s account will be credited with Rs.100, and TDS Payable will be debited with Rs.100.

From this point, TDS should be deducted on the full amount of every credit posted to seller’s account for goods purchased and received and on the full amount of any advance paid to him.

Illustration 2: What about those cases where, as per terms of trade, payment is required to be made in advance and goods are dispatched only thereafter by the seller? Suppose advances paid during the financial year up to 28.03.2022 to a seller is Rs. 48,00,000 and goods purchased delivered by the seller is also Rs. 48,00,000. On 29.03.2022, an advance of Rs. 3,00,000 is about to be paid and goods will be delivered against this advance on say 04.04.2022. Will TDS have to deducted as the aggregate value of purchases (based on goods delivered) from the resident seller is less than Rs. 50,00,000?

In this instance, neither the completed purchase by way of deliveries received nor the payments made for purchases have exceeded Rs. 50,00,000 limit for the financial year upto 28.03.2022. So, no TDS is deductible upto this point. However, on 29.03.2022, the payment of Rs. 3,00,000 will take the payments to more than Rs. 50,00,000 though completed deliveries is still below Rs. 50,00,000 limit. Therefore TDS will have to be deducted from this advance payment of Rs. 3,00,000 on Rs.1,00,000 (i.e. excess of Rs. 51,00,000 over limit of Rs. 50,00,000)

Perhaps, the suppliers’ ledger would need bifurcation as suppliers’ ledger (TDS) and Supplier’s ledger (Non-TDS). Perhaps, it would be better to divide the suppliers’ ledger into Suppliers’ ledger (TCS), Supplier’s ledger (TDS), and Supplier’s ledger (Non-TDS, non-TCS). This would also help track collection of tax at source by suppliers and cases where suppliers have to be intimated not to collect TCS as buyer-entity will deduct TDS under section 194Q.

5.1 How to apply the monetary financial threshold of Rs.50,00,000 in financial year 2021-22

The credit or payment should be on or after 01.07.2021 to attract TDS. Since the threshold of Rs. 50,00,000 for a resident seller is with respect to the previous year, calculation of completed deliveries of goods as well as payments made to him for triggering TDS under section 194-Q of the Act shall be counted from 1st April, 2021. If either completed deliveries by a seller or payments made to him or both for the period 01.04.2021 to 30.06.2021 have crossed the Rs. 50,00,000 threshold, then TDS will have to be deducted on full amount of any credit posted to his account or full amount of any payment made to the supplier on or after 01.07.2021 on “credit to seller or payment to him by any mode, whichever is earlier” basis. For instance, suppose the completed value of deliveries by a seller for the period 01.04.2021 to 30.06.2021 is Rs. 60,00,000, and payments during the period is say Rs. 51,00,000. There is no need to deduct TDS on the excess over the limit of Rs.10,00,000 during this period from any credit posted or payment made on or after 01.07.2021. Simply start deducting TDS @ 0.1%. from every credit or every payment made on or after 01.07.2021. Suppose credit of Rs. 3,00,000 is posted to the seller’s account for goods delivered by him. Deduct 0.1% of Rs. 3,00,000 from this Rs. 3,00,000. No need to deduct 0.1% of excess over the limit of Rs.10,00,000 from 01.04.2021 to 30.06.2021 from this or any other credit or payment made on or after 01.07.2021.

If limit of Rs. 50,00,000 for the financial year 2021-22 has already been exceeded by 30.06.2021, then only any credit or payment made on or after 01.07.2021 will attract TDS. Credits or payments in excess of Rs. 50,00,000 limit made on or before 30.06.2021 will not attract TDS.

If suppose value of deliveries received from a resident seller from 01.04.2021 to 30.06.2021 has not crossed the Rs. 50 lakhs limit as of 01.07.2021 and is only Rs. 47,00,000. And payments made to him during the said period is say Rs. 45,00,000. Then a purchase of Rs. 4,00,000 is made on 01.07.2021 and goods are received and account of the seller is credited with Rs. 4,00,000. As the value of purchases crosses Rs. 50,00,000 due to this credit, TDS will have to deducted at the rate of 0.1% on Rs.1,00,000 (i.e. Rs. 51,00,000-50,00,000) =Rs.100

If suppose value of purchases from 01.04.2021 to 30.06.2021 exceeded Rs.1,00,00,000 and a purchase of Rs.1,00,000 is made on 01.07.2021 and account of seller is credited on that date, TDS of 0.1% will have to be deducted on Rs.1,00,000 only at the time of making this credit. So Rs.100 will be deducted from Rs.1,00,000 and not Rs. 5100 [0.1% of Rs 51,00,000 (i.e. Rs.1,01,00,000 -50,00,000)]

6. Time of deduction

TDS is required to be deducted at the time of credit of such sum to the account of the seller or at the time of payment thereof by any mode, whichever is earlier.

Where any sum referred to in sub-section (1) is credited to any account, whether called “suspense account” or by any other name, in the books of account of the person liable to pay such income, such credit of income shall be deemed to be the credit of such income to the account of the payee and the provisions of this section shall apply accordingly.

7. Rates of TDS

Rate of TDS applicable is 0.1%

The following points may be noted:

- The rate of TDS under section 194P is not to be increased by surcharge and health and education cess as payee is resident.
- The facility of obtaining a certificate for no deduction or lower deduction of tax is not available in respect of payments covered by section 194LBA [See Chapter 37 of Taxmann’s TDS Ready Reckoner]
- No provision is there for non-deduction of tax under section 194LBA based on the self-declaration of the payee in Form No.15G or in Form No.15H. [See Chapter 38 of Taxmann’s TDS Ready Reckoner]

If deductee does not furnish PAN, rate of TDS shall be 5%

8. Effect of non-furnishing of PAN by deductee on rate of tax (section 206AA)

TDS under section 206AA shall be deducted at higher of the following rates-

(a) the rate prescribed in the Act (0.1% specified in section 194Q);

(b) at the rate in force, i.e., the rate mentioned in the Finance Act; or

[See Chapter 43 of Taxmann’s TDS Ready Reckoner]

9. Deduction of TDS at higher rates on payments to non-filers of income-tax return

See Chapter 44 of Taxmann’s TDS Ready Reckoner

10. When no tax need be deducted or deducted at lower rate

See Chapters 37 and 38 of Taxmann’s TDS Ready Reckoner

11. Tax Deduction and Collection Account Number (TDCAN)

See Chapter 1 of Taxmann’s TDS Ready Reckoner

12. Deposit of tax to the credit of Central Government

See Chapter 40 of Taxmann’s TDS Ready Reckoner

13. Furnishing of TDS Returns

See Chapter 41 of Taxmann’s TDS Ready Reckoner

14. Certificate/statement for tax deducted at source

In respect of tax deducted at source during the financial year, the payer should furnish to the payee a certificate for tax deducted at source in Form No. 16A. [See Chapter 42 of Taxmann’s TDS Ready Reckoner]

15. Annual statements to payees by department

See Para 39.3 of Taxmann’s TDS Ready Reckoner

16. Credit for tax deducted at source

See Chapter 39 of Taxmann’s TDS Ready Reckoner

17. Furnishing of statement in respect of any income to residents without deduction of tax

See Chapter 45 of Taxmann’s TDS Ready Reckoner

18. Claim for refund

30.17 Rule 31A(3A) provides that a claim for refund, for sum paid to the credit of the Central Government under Chapter XVII-B, shall be furnished by the deductor in Form 26B electronically under digital signature or verified through an electronic process in accordance with the procedures, formats and standards prescribed by the Director General of Income-tax (Systems). See Chapter 40 of Taxmann’s TDS Ready Reckoner

Check out Taxmann’s e-TDS Compliance- File your eTDS return easily within minutes.

19. Consequences of non-deduction/short deduction of tax at source

See Chapter 46 of Taxmann’s TDS Ready Reckoner

20. Disallowance under section 40(a)

See Chapter 46 of Taxmann’s TDS Ready Reckoner

Also Read:
TDS on Payment by E-Commerce Operator to Participants
Deduction of Tax in Case of Specified Senior Citizen
Deduction of Tax at Source on Payment for Purchase of Goods

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3 thoughts on “TDS Deduction on Payment of Certain Sum for Purchase of Goods”

jaikishore sharma says:

July 8, 2021 at 4:50 pm

Threshold Limit Rs. 50,00,000/- for TCS
Is This Threshold amount Rs. 50,00,000/-
Including GST or Excluding GST ???

Need little clearity as per law on the above.

Thanks

Reply
1. Taxmann says:
  
  August 4, 2021 at 12:11 pm
  
  “CBDT vide Circular No. 13 of 2021 has clarified that tax under this provision shall be deducted on the amount credited without including GST if the following conditions are satisfied:
  (a) Tax is deducted at the time of credit of amount in the account of the seller; and
  (b) The component of GST comprised in the amount payable to the seller is indicated separately as per the terms of the agreement or contract between the buyer and the seller.
  However, if the tax is deducted on a payment basis because the payment is earlier than the credit, the tax would be deducted on the whole amount as it is not possible to identify the payment with the GST component of the amount to be invoiced in the future.”
  
  Reply
Ravi Kumar says:

August 4, 2021 at 6:41 pm

Great it answers all my questions.

Reply

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The statutory material is obtained only from the authorized and reliable sources
All the latest developments in the judicial and legislative fields are covered
Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
Every content published by Taxmann is complete, accurate and lucid
All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
The golden rules of grammar, style and consistency are thoroughly followed
Font and size that's easy to read and remain consistent across all imprint and digital publications are applied

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TDS Deduction on Payment of Certain Sum for Purchase of Goods

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