TDS deduction

160 views 1 replies
can we make adjustment for the next bill reharding with deduction of TDS if we have deduct from contractor's bill but forget to file in the form gstr7.
Replies (1)

I assume you have deducted the TDS under GST and have not paid the amount or disclosed it in your GSTR 7.

 

In my opinion the possible solution is ,

Deposit the amount and disclose the amount in the next GSTR 7 , by paying Interest 18% as per section 50(1) and pay interest from  10th (Due date of return filing) to the date of actual payment. Ensure you generate the TDS certificate with 5 days of payment to government to avoid additional penalty of Rs. 100 ( CGST) Rs. 100 SGST or Rs. 200 IGST per day of delay. 

Additional Tip: Pay this non deposited amount only with the next months TDS liability and not separately.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register