29 October 2018
if rate contract has been executed between supplier and recipient for either providing goods and/or services or both where actual amount is not fixed and number of bills is raised as and when providing goods and/or services by supplier. In this situation, threshold limit of 2.5 lakh can not assumed to be cross during the period of contract. In that case , should recipient deduct TDS On GST???
31 October 2018
Thank you sir your reply, but i want to know that if government and its related organization is recipient and execute rate contract between government and supplier, then should government and/or its related organization deduct tds on GST or not???
03 November 2018
Dear Chintan, Liability of DDO to deduct TDS arises when Contract value exceeds Rs 2.5 lac, since in your case contract value is not fixed, wait till it crosses 2.5 lac, as soon as it crosses, TDS on entire amount paid till date shall be deducted from the immediate next payment. Answer is based on Query no. 23 given on SOP issued on GST website.
CAclubindia
