TDS(Tax Deduct at Source) Adjustment For RTV (Return to Vendor) Debit Memo Invoices (Doc ID 2801368.1)

Last updated on NOVEMBER 30, 2023

Applies to:

Goal

For Return to Vendor (RTV) cases what is applicability of TDS reversal and threshold balance calculation?

Business Scenario:

1. ONE Standard Invoice/ERS generated against vendor those threshold already exceed 50 lakh
Inv Basic amount - 5 Lakh i.e TDS charged 0.1% as 500 RS on it.

2. Somehow Rate changes/Quality/wrong tax selection of GST any one of them user need to RTV of that Standard Invoice.

3. System auto RTV - Debit note created in -5Lakh

4. How TDS has been reversed & threshold amount also ( 55 Lakh - 5 Lakh)?

Solution

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