Hi, Need help anyone
Is TDS on GST applicable on Insurance Premium renewal of students. If the Invoice amount is more than 2.5 lakh without including GST 18%. And if the Insurance Company is Govt.
Thanks.
7 Replies
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 21 February 2020
Kindly clarify the who is taking the insurance ???? whether registered in GST ???
Mhon Ngullie
(12 Points)
Replied 21 February 2020
Our Institute is taking insurance & yes we are registered with GST
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 22 February 2020
No TDS is not applicable.
As per Section 51 of CGST Act TDS GST is applicable :
If the Recepeint is Govt concern availing services or goods from Registered person.
Hence in your case you are the Recepeint of services so no GST TDS liability arises
As per Section 51 of CGST Act TDS GST is applicable :
If the Recepeint is Govt concern availing services or goods from Registered person.
Hence in your case you are the Recepeint of services so no GST TDS liability arises
Anand Mhetre
(Service)
(31 Points)
Replied 22 February 2020
How to accept Tds Gst credit in Gst portal?
Mhon Ngullie
(12 Points)
Replied 22 February 2020
Thank you sir.
So we cannot deduct TDS GST/IGST from the Invoice amount of Insurance premium.
Recent Topics
- Royalties
- Handling of NRO TDS
- Asset Declaration in ITR2
- CGST/SGST Input tax Classification in Tally Prime
- PREFERENCE SHARES - NBFC
- Vivad se vishwas scheme 2024
- List of banks for tax payments available at e-Pay
- Excess itc claimed then intrest applicable even if
- Financing for Properties and Businesses
- TAX DEMAND STILL SHOWING ON INCOME TAX PORTAL, EVE
Related Threads
CAclubindia
