in case a company receive bills for March 19 in April 11th 2019, then the company can post the bill in March 19 and create provision for TDS under income tax which will be paid on 30th april 19.
but how to treat the TDS UNDER GST.
5 Replies
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 02 April 2019
In same manner ....but in GST the tds return has to be file on or before 10/4/2019
CA SANDESH MAHIPAL
(Practicing in GST and MSME )
(1985 Points)
Replied 03 April 2019
Liability to pay TDS on GST arises ay the time of payment. So deduct TDS on GST when you make payment and accordingly deposit to government within due date for that month.
Anil kumar
(job)
(33 Points)
Replied 03 April 2019
you means to say , there is no need to make provision for TDS under GST for bills for the month of March processed in april.
only exp and tds under income tax provision is to b created in march.
only exp and tds under income tax provision is to b created in march.
Anil kumar
(job)
(33 Points)
Replied 05 April 2019
but as per Gst law TDs is to be deducted at the time of payment OR credit to the supplier of taxable goods or services. what is the meaning of credit here.
as the bills are dated before march 19 (physically received in April 19), will be booked in March 19 through provision. but payment will be made to supplier in April 19.
as the bills are dated before march 19 (physically received in April 19), will be booked in March 19 through provision. but payment will be made to supplier in April 19.
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