If a company had entered into a contract before 1st, Oct 2018, and goods/service is also provided before 1st Oct 2018.
But payment is made after 1st Oct, so the company is liable to deduct Tds on gst or not?
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Tds on gst.
Replies (8)
TDS under GST law is only required to be deducted by Govt. Dept and PSUs, and not everybody else, and only if the value in contract exceeds Rs. 250,000. TDS is not required to be deducted on the GST component.
it's a government company and contract exceed RS 2.5 lakhs
Then deduct TDS, excluding the GST component.
Are you confirm about it, actually I read some where then I asked the above question. otherwise I also thought of deducting Tds.
Tds should not to be deducted on gst component.
@ Rocky
As per SOP released on CBEC site
No TDS is to be Deducted Where the payment relates to a tax invoice that has been issued
before 01.10.2018
As per SOP released on CBEC site
No TDS is to be Deducted Where the payment relates to a tax invoice that has been issued
before 01.10.2018
contact before Oct, service completed before Oct, but invoice is raised after Oct and payment is also made after Oct.
Then dear ...TDS is to be Deducted
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