31 December 2018
Hi gupta, notification No 50/2018 dated 13.09.2018, which provides that TDS provisions u/s 51 will be applicable w.e.f 01.10.2018 and provides other specified persons ( Deductor )as below:
(a) an authority or a board or any other body, –
(i) set up by an Act of Parliament or a State Legislature; or
(ii) established by any Government,
(iii) with fifty-one per cent. or more participation by way of equity or control, to carry out any function;
(b) Society established by the Central Government or the State Government or a Local Authority under the Societies Registration Act, 1860 (21 of 1860);
(c) public sector undertakings (PSUs). Kindly ensure, you are covered under specified person catageory.? If yes you can deduct the TDS @2% ( CGST 1% + SGST 1% or IGST 2% ). You can deduct the TDS on GST based on TAN number. GSTN number not required.
CAclubindia
