TMI BlogSection 194Q : TDS on Purchase of GOODSX X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ₹ 50,00,000 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 ₹ 50, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tte, specify for this purpose, subject to such conditions as may be specified therein. Non applicability 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 section 206C(1H) applies. Power of CBDT to issue guidelines ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing such 'GST on services' component. GST for these purposes shall include IGST, CGST, SGST and UTGST. Guidelines issued for the purpose of removing the certain difficulty vide Circular No. 13 of 2021 dated 30/06/2021 and circular no. 20/2021 dated 25.11.2021 Applicability on transactions carried through various Exchanges It has been represented that there are practical difficulties in imp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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