Under GST there is Provision of TDS purchase above 2.5 lacs by Govt.organization.
how much TDS has to deducted under which law I.e. IGST, CGST or and SGST.
for the same goveremnt still not prescribed the rate.
2 Replies
CA Aditya Goenka
(CA Practice)
(174 Points)
Replied 24 June 2017
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.
No tax deduction required where the location of supplier and place of supply is different from the State of the registration of the recipient.
for purpose of deduction of TDS, the value of supply is to be taken as the amount excluding the tax indicated in the invoice. This means TDS shall not be deducted on the CGST, SGST or IGST component of invoice.
TDS shall be paid within 10 days from the end of the month in which tax is deducted. The payment shall be made to the appropriate government which means:
- The Central Government in case of the IGST and the CGST
- The State government in case of the SGST.
Recent Topics
- DRC 03 for delayed RCM Payment
- Declaration about Legal Metrology Act
- Intermediary services under GST - SGST CGST IGST
- CSR thru implementing agency
- ETax payment of Revised return
- US based NRI Taxation on endowment plan taken in I
- Is it necessary to fill HSN code in GSTR 1, is the
- Pf advance withdrawal limit
- AOC4 & CFS,STANDALONE
- Gst tax rate on canned mushroom
Related Threads
Trending Online Classes
-
6 days Certification Course on GST Practical Return Filing Process
CA Pratibha Goyal16 December 2024
CAclubindia
