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Is tds applicable on import freight charges

Witryna12 kwi 2015 · TDS on Air Freight (included in supplier's bill) in case of imports. Contents. We are paying to our foreign supplier in advance through proforma invoice … WitrynaThe CGST Act requires the importers to pay IGST at 5% on ocean freight under the Reverse Charge Mechanism (RCM). Section 5 (3) of the IGST Act: This section notifies the supplies which are taxable to GST under the reverse charge mechanism. Under the reverse charge mechanism, a recipient of goods/service is liable to pay GST instead …

No TDS U/s 194C on freight to C&F charges . RJA - Rajput Jain …

Witryna10 gru 2009 · Follow. 11 December 2009 There is no TDS on imports of goods provided you are purchasing on principal to principal basis and have contracted with the party abroad. However, if party has a branch in India or a dependent agent with whom you made the contract then you have to deduct TDS. In case of a fictional creation of … Witryna28 lut 2024 · 10. The assessee during the year has incurred terminal handling charges amounting to Rs.1,29,22,949/- without deducting the TDS. As per the assessee the amount of terminal handling charges incurred is part of ocean freight paid to the agents of non-resident shipping business. fashions this summer https://bearbaygc.com

Tds on air freight to non-resident supplier - Income Tax TDS

WitrynaArun Kumar Regarding your query the non deduction of TDS on sea freight paid it is submitted that as the freight paid to shipping agent of non-resident shipping companies, so TDS provision is not applicable. The Movers International is a shipping agent of swift connection which is a non-resident shipping company. Witryna19 sie 2016 · If anyone has any kind of Doubt Regarding TDS on Agency Service Charges (Charges of CHA Agents like Prime Forwarders, Unique Speditorer Pvt. Ltd. … Witryna9 lip 2024 · Freight insurance – relating to import and export of goods: 23: ... The agency in Dubai sent to us an Invoice for AED 20,00 for the booth charges. ... In Designer Charges payments against Outward remittance TDS is applicable. If yes at what rate. RCM applicable for this transaction. Please advise. fashion steps out singapore

TDS on freight charges for AY 2024-21 - CAclubindia

Category:Section-194Q TDS on Purchase of Goods with Clarifications

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Is tds applicable on import freight charges

TDS on Clearing & Forwarding Agents Payment

Witryna28 kwi 2024 · According to the New York State Society of CPAs, the United States charges a 4% tax (also known as TDS in other countries) on foreign-owned ships that … Witryna19 wrz 1995 · SECTION 172 l SHIPPING BUSINESS OF NON-RESIDENTS. 913. Tax deduction at source from payment made to foreign shipping companies. 1. Representations have been received regarding the scope of sections 172, 194C and 195 of the Income-tax Act, 1961, in connection with tax deduction at source from …

Is tds applicable on import freight charges

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Witryna13 kwi 2024 · 1. import freight paid to indian shipping company. 2. import freight paid to foreign shipping company. 3. export freight paid to indian shipping company. 4. export freight paid to foreign shipping company. 5. on what amount tds will be applicable. invoice includes freight charges, port charges, material handling charges etc Witryna6 lip 2024 · The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) in the case of M/s. KGL Network (P) Ltd v.The ACIT held that payments made for Air Freight by the assessee-company to such airline companies or its different agents are not liable to be taxed in India.. The assessee-company was engaged in the business of total logistic …

Witryna29 lip 2024 · 3. Ground Nos. 1 to 3 of the appeal relate to the disallowance of Rs.6,42,437/- for non deduction of tax at source u/s 40 (a) (ia) of the Act on payment … WitrynaIncome Tax, Service Tax, Excise, Custom, GST Author has 97 answers and 211.6K answer views 7 y. Importer is not required to deduct TDS on shipping cost paid to …

WitrynaTDS not deductible on freight chargers shown separately in Goods Purchase Bill. CIT v. Bhagwati Steels - (Punjab & Haryana HC) - In the instant case, it was held that . the payment of freight charges by the assessee to the truck drivers was based on . individual GRs which represented individual and separate contracts and there was no Witryna22 lut 2011 · Replied 21 February 2011. Yes Tds is applicable u/s 194c its clearly mentioned in 194C carriage of goods by any mode other than railways. Online …

Witryna26 maj 2012 · Tds on import. 26 May 2012 My client has import goods through a agent and agent has sent a bill to my client for sea import freight charges, exworks , …

Witryna4 gru 2024 · TDS on freight charges for AY 2024-21. 04 December 2024 TDS is to be deducted u/s. 194C on freight charges paid if single payment exceeds Rs.30000/- … freeze dried meals recipesWitrynaNew TDS deduction No cash transactions exceeding 1 Crore -Section 194N. Extention of TDS/TCS statement filing Date. Following material on record which found and establishes the below situation: –. (i) The Clearing and forwarding agents have raised 2 separate bills: (a) 1st towards the services rendered by the Clearing and forwarding agents; and. fashion steampunkWitryna21 sty 2010 · The amount of Rs. 2,01,81,428/- stood paid by the assessee / respondent to M/s Tata Steel as freight charges for carriage of its goods on which tax was not … fashionstick.inWitryna24 cze 2024 · Freight Charges may be classified into two categories: i. Freight Payment to Owners of Goods Carriages. ii. Freight Payment to persons other than Owners in respect of Goods Carriages. TDS on Freight Payment for Goods Carriage are … fashion sticker collectionWitryna13 kwi 2024 · 1. import freight paid to indian shipping company. 2. import freight paid to foreign shipping company. 3. export freight paid to indian shipping company. 4. … fashions through the agesWitryna4 lip 2024 · How to charge TDS on freight as it will attract 194C. Reply. November 23, 2024 at 4:28 pm ... Does Sec 194Q is applicable on Freight, Packing or Loading charges on purchase of goods. Eg- Material Value – 1,00,000 ... Pls confirm if TDS 194 Q is applicable on purchase of Rice Husk for boiler. Reply. July 9, 2024 at 10:59 am fashions taylor crosswordWitryna21 lut 2011 · 21 February 2011 TDS not applicable on ocean freight and sea freight if it is paid to non residents and if he has exemption certificate u/s 172 of income tax act. … fashions this autumn