Tcs credit setoff

Others 170 views 3 replies

 

Hi experts please answer my querry

My client doing resturant business having TCS credit since october 2019. ( TCS deducted by swiggy).

He has not setoff the credit while paying tax. This month he wants to setoff the entire credit against

GST liability . System not allowing to enter the amount in GSTR 3 B .following msg is appearing in screen

"since the provision for TDS/TCS have not been notified . This particular section kept inactive in GSTR3B"

Is there any otherway to adjust the credit. Is there any time limit to set-off TCS Credit.

 

Replies (3)

firstly you need to file return TDS / TCS returns >> and such credit shall be credited to e-credit ledger 

Thanks Mr Naveen Chand for your reply.

Can u calrify one more querry.

Swiggy while making payment deducting commission and also deducting GST18% on commission . whether

this GST amount can be claimed as ITC by the resturant. if so please explain

regards

Narayanan

No....... In term of Notification 46/2017 CT(R) , it's 5% FC without ITC


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