Is GST Tds on GST ITC ?
Find below input service ( Tax Invoice)
Base amount of contract : 200,000/-
GST on the above : (9%+9%): 36000/-
Total Invoice value : 236000/-
How much will be the GST Tds ?
Is it 360+360 ?
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GST Tds on GST
Replies (23)
Quick Summary
Threshold limit to deduct GST TDS is 2.50 Lacs as per section 51 of the CGST act , if you are GOVT department . please refer section 51of the CGST act.
GST tds is applicable .There are other invoices also .
How much is the amount based on above details ?
How much is the amount based on above details ?
Each invoice will be treated a separate contract if they are not under a single contract.
It will come under single contract for a particular FY as per the contract
Is there a contract or are you considering that all invoices in a fy will be assumed to be a single contract?
Yes..Total exceeds 2.5lacs .And you may answer based on this
Value of Supply is- 250000 is limit ,not included gst in it,
Is GST Tds on GST ITC ?
Find below input service ( Tax Invoice)
Base amount of contract : 200,000/-
GST on the above : (9%+9%): 36000/-
Total Invoice value : 236000/-
How much will be the GST Tds ?
Is it 360+360 ?
This is the query I have asked
Find below input service ( Tax Invoice)
Base amount of contract : 200,000/-
GST on the above : (9%+9%): 36000/-
Total Invoice value : 236000/-
How much will be the GST Tds ?
Is it 360+360 ?
This is the query I have asked
*No it will be 200+200
For the purpose of deduction of TDS, the value of supply shall
exclude the taxes leviable under GST (i.e. ‘Central tax’, ‘State tax’, ‘UT
tax’, ‘Integrated tax’ & Cess). Thus, no tax shall be deducted on
‘Central tax’, ‘State tax’, ‘UT tax’, ‘Integrated tax’ and cess component
levied on supply
* Moreover , if the contract value (Taxable supply) is less then 2.5 lac not required to deduct TDS.
(Reference : Section 51 & SOP on cbic site on TDS)
For the purpose of deduction of TDS, the value of supply shall
exclude the taxes leviable under GST (i.e. ‘Central tax’, ‘State tax’, ‘UT
tax’, ‘Integrated tax’ & Cess). Thus, no tax shall be deducted on
‘Central tax’, ‘State tax’, ‘UT tax’, ‘Integrated tax’ and cess component
levied on supply
* Moreover , if the contract value (Taxable supply) is less then 2.5 lac not required to deduct TDS.
(Reference : Section 51 & SOP on cbic site on TDS)
Total contract value is above 10lacs
It will b single contracts,dedutor is Govt department.Dedustee may b it shown seperatly in his return.Tax already deducted at source.
Kindly give answer to the question raised above
GST TDS has to be deducted @ 2% (CGST 1% + SGST 1%) on taxable value.
Dear Eswar Reddy
Its already being clarified ...>2.5lac require tds to be deducted.
hence deduct the TDS
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