Hi,
just wanted to check is TDS applicable for any items purchase
some articles saying 1% need to deduct on all GST invoices if amount crossed 2.5 lacks...
Regards,
Dhanakirthi
As per GST law following people/entities need to deduct TDS:
- A department or establishment of the Central or State Government, or
- Local authority, or
- Governmental agencies, or
- Persons or category of persons as may be notified, by the Central or a State Government on the recommendations of the Council.
TDS is to be deducted at the rate of 1 percent on payments made to the supplier of taxable goods and/or services, where the total value of such supply, under an individual contract, exceeds two lakh fifty thousand rupees.
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