tds deduction in gst
tazeem1922@gmail.com (37 Points)
30 July 2018how to deduct it
and where to submit it
at which amount of service it can be deducted
tazeem1922@gmail.com (37 Points)
30 July 2018
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 30 July 2018
When single transaction with a contractor exceeds 30k or overall traansaction of entire year exceeds 1lac then TDS is deducted as below:
one per cent where the payment is being made or credit is being given to an individual or a Hindu undivided family;
two per cent where the payment is being made or credit is being given to a person other than an individual or a Hindu undivided family,
You have to deduct it at the time of payment to contractor and such deducted amount shall be deposited in governments account before 7th of succeeding month of deduction.
Of which u need to file quarterly return
tazeem1922@gmail.com
(37 Points)
Replied 30 July 2018
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 30 July 2018
tazeem1922@gmail.com
(37 Points)
Replied 02 August 2018
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 02 August 2018
1.Yes
2.Transport bills you have to book as normal expenses and GST amount to Input GST heads
3.Agent commission income is liable to TDS u/s 194H @ 5% if total amount payable exceeds 15k
Originally posted by : tazeem1922 @ gmail.com | ||
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government account ?? in gst aor any other account can you please elaborate. | ![]() |
Do u have TAN no in name of deductor
BHARATH KUMAR SHETTY
(PRACTINCING COST ACCOUNTANT)
(75 Points)
Replied 02 August 2018
TDS provision under GST is different from TDS provision under Income Tax.
TDS provision under GST is illustrated under Section 51 onwards,
TDS is to be recovered by Government agencies/Local authorities and other persons as notified by the Goverment against payment exceeding 2.5 Lacs ( @ 1% each under CGST and SGST) and to be remitted along with filing of returns GSTR7.
TDS provision is also made applicable to Electronic commerce operators under Section 52 against payment made to Suppliers.
But it is understood that the applicability of these provisions have been deferred till 30-09-2018 by the GST council
Originally posted by : tazeem1922 @ gmail.com | ||
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no i dont have TAN no @ RATAN | ![]() |
Than 1st u need to Apply TAN in name of deductor
tazeem1922@gmail.com
(37 Points)
Replied 02 August 2018
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