Dear Experts,
1. Our company purchases the raw materials from our supplier.
2. We pay the 0.1% of TCS to our suppliers.
3. Supplier sent the Certificate for these collected TCS amount.
Query:
a. . After getting this certificate, whether we need to file GSTR 8?
b. Whether these TCS amount paid,will be credited into either Electronic Cash Ledger or Electronic Credit Ledger?
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GSTR 7 related
Replies (6)
0.1% TCS income tax paying. No relationship with GSTR-8
Shall we avail itc?
You can. But subject to fulfilment of conditions specified under section 16 and 17 of CGST Act,2017.
Thank you for your prompt response, Expert
(a) No... the supplier has collected TCS under 206(1H) ,it is going reflected in your 26AS
(b) No it's not GST TCS so not going reflect in cash or credit Ledger
(b) No it's not GST TCS so not going reflect in cash or credit Ledger
You need not file any GST return for this scenario. This is related to income tax and not GST. So the amount will not be credited in any of the ledgers of GST
Know more about GSTR-7
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