ITC of tds in gst

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This query is : Resolved

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This discussion clarifies how to claim Input Tax Credit (ITC) for Tax Deducted at Source (TDS) under GST when a contract value exceeds 2.5 Lakhs. The process involves identifying the month the TDS is reflected on the GST portal and then filing the 'TDS credit received' return. By accepting the deducted TDS through your GST login, it will be successfully reflected in your cash ledger.

karan kumar

karan kumar (Querist)
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27 May 2020 Dear Experts,
We entered into contact with govt body with contract value above 2.5 Lakh, however contractee has deducted 2% TDS which is also being reflect in our 2A,

You are requested to clarify the procedure to claim the ITC of TDS deducted by contractee,

Thanks
Karan

CA Saloni

CA Saloni (Expert)
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27 May 2020 You have to find out in which month TDS deducted is being shown on portal, then simply file the "TDS credit received" return for that period

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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28 May 2020 Yes file TDS/TCS return available on GST portal under your login by accepting the TDS and after successfully filing the same it will reflect in your cash ledger.

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