Tds in gst

201 views
User Avatar

10 Points Posted on 24 August 2020
what is tds concept in gst , when it avail
1 Reply Share Follow
On 24 August 2020 at 19:40 Report
Replies (3)
Quick Summary
This discussion clarifies the concept of Tax Deducted at Source (TDS) under GST. As per Section 51 of the CGST Act 2017, specified government entities and notified persons must deduct TDS at 1% CGST and 1% SGST on payments for taxable goods or services exceeding ₹2.5 lakh under a contract. It also touches upon the possibility of claiming Input Tax Credit (ITC) on TDS.

User Avatar

GST Practitioner & Accounts
15146 Points Posted on 24 August 2020

As per  Section  51  of the CGST act  2017 , Department  of Central  Govt  , State  Govt , Local  authority , Govt Agencies  and  such person notified  by the Govt  to deduct  Tax at source  @   1% CGST  , 1%  SGST ( or at present rate prescribed )   from the  payment  made or credited  to the supplier of taxable goods  or services  or both , Where total  value of such supply , under a contract , exceeds two lac fifty thousand rupees (  2.50 lac ) . 

Reply
On 24 August 2020 at 20:18
User Avatar

10 Points Posted on 24 August 2020
Thnxx sir
Reply
On 24 August 2020 at 20:20
User Avatar

435 Points Posted on 27 August 2020
Can we claim ITC on tds
Reply
On 27 August 2020 at 18:45

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Updating form 10-ee and Schedule FA if there is ch
  2. Sale of property in SLUM area ....SRA
  3. GST applicability on Shipping charges
  4. Outstanding Demand in Income Tax: How To Respond?
  5. LTCG on property sale
  6. Capital gains incidence due to bonus shares
  7. Amendment of Object Clause of Memorandum
  8. How Can I Request a Refund for an Accidental Airte
  9. TDS on salary paid in cash
  10. YEAR END GST ENTRY FOR RCM NOT PAID RS 5000 I.E OU

More recent discussions | Post