03 June 2021
HOW TO CLAIM TDS DEDUCTED BY THE GOVERMENT FOR CONTARCT WORK FROM THE CONTRACTOR DO CONTRACTOR NEED TO FILE SEPERATE RETURN OR HE CAN GET CLAIM IN GSTR3B PLS SOMEONE HELP ME TO KNOW THE PROCESS
03 June 2021
Claim it in GST portal, it will be credited to your Cash ledger. See the procedure. Steps to file 'TDS and TCS credit received' on GST portal Step 1: Login toGST portal. Step 2: Go to 'Services' > 'Returns' > 'Returns Dashboard' Step 3: Select the return period of GSTR-3B being filed and proceed to 'TDS/TCS credit received' tile.
03 June 2021
After login go to services dropdown menu then select returns. In returns dropdown menu there will be option of TDS YCS credit received. Select that and file the form. Your cash ledger will get updated.
03 June 2021
OK THANK YOU SO MUCH FOR THE CLARIFICATION SINCE THE GST3B RETURN IS FILED BY CONTRACTOR EVERY MONTH WILL TDS BE SHOWN EVERY MONTH OR ANY SPECIFIC PERIODE SECONDLY IS THERE ANY EFFECT OR OPTION TO RECEIVE CREDIT IN GSTR 3 B RETURN FOR THE DEDCUTION MADE MY LOCAL GOVERNMENT FROM CONTRACTOR ( CESS , ROYALTY , )
AND HOW TO ACCOUNT FOR THE GST WHICH IS PARTIALLY DECTED BY THE GOVERNMENT FROM THE CONTRACTOR ( TOTAL GST 18 PERCENT AND GOVERNMENT DEDUCT 2% IN FINAL BILL AND REST 16 PERCENT PAID BY CONTRACTOR ( WHAT WILL BE PROCESS FOR SUCH ADJUSTEMENT IN GSTR 3 B RETURN
03 June 2021
The form for TDS TCS is also monthly. For each month you will have to file it to receive the cash in your cash ledger. It does not go the credit ledger but as already mentioned it will reflect in cash ledger once you file the form. The amount deducted will be shown as asset as GST TDS once it is transferred in cash ledger and adjusted from GST liability the same will be done in accounts
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