We are a unit in SEZ and we are importing raw material. When import, NSDL is deducting INR200 per bill of entry. For which, we pay INR50,000 as deposit and NSDL deduct INR200 per BOE from deposit and again we pay fresh deposit. Now my question is whether INR50,000 or iNR200 is applicable for TDS. If yes, please provide in detail.
Regards/Panch
Inquiry on TDS Applicability for SEZ Unit's Raw Material Imports: Clarification Sought on INR 50,000 Deposit or INR 200 Deduction A unit in a Special Economic Zone (SEZ) inquired about the applicability of Tax Deducted at Source (TDS) on their transactions involving the import of raw materials. They noted that NSDL deducts INR 200 per bill of entry from a deposit of INR 50,000. The query sought clarification on whether TDS applies to the INR 50,000 deposit or the INR 200 deduction. Respondents requested details on the provisions under which the deductions were made, emphasizing that purchasing goods is not a service, and TDS applicability would depend on specific tax provisions. (AI Summary)
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