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I think it is same as withholding tax …
is this a kind of amount that i am supposed to get , but not getting during delivering a product ?
In Indian tax systems we have GST instead of VAT …
Usually when you sell a product , you receive the product amount + tax amount … from the buyer …
In TDS and RCM ,
I think you only get the product amount from the buyer … The buyer does not pay the tax amount of the product you sold …
he collects that tax amount and pays it to the government …
And that tax amount becomes a receivable amount in the company journal …
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