If under a contract invoice is raised in Pre Gst period and a part of payment has already been made and if the remaining payment towards the said invoice which is more than 250000 is made after 01/10/2018 ,then is Section 51 of CGST Act (ie) TDS on GST applicable ?
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Tds on gst
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| Originally posted by : Sruthi | ||
 |
If under a contract invoice is raised in Pre Gst period and a part of payment has already been made and if the remaining payment towards the said invoice which is more than 250000 is made after 01/10/2018 ,then is Section 51 of CGST Act (ie) TDS on GST applicable ? |  |
- Such persons or category of persons as may be notified by the Government on the recommendations of the Council,
(hereafter in this section referred to as “the deductor”), to deduct tax at the rate of one per cent. from the payment made or credited to the supplier (hereafter in this section referred to as “the deductee”) of taxable goods or services or both, where the total value of such supply, under a contract, exceeds two lakh and fifty thousand rupees:
Yes Applicable
No... GST provisions not applicable for Outstanding Payments of Pre-GST.
As per the SOP release on CBEC site
Where the payment relates to a tax invoice that has been issued
before 01.10.2018 No TDS to be deducted.
Where the payment relates to a tax invoice that has been issued
before 01.10.2018 No TDS to be deducted.
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