Updated Online video classes available for CA,CS,CMA for May20 and Nov20 batch. Call: 1800-3000-0505

Tds on gst


T.T.VIJAYAPRAKASH (properter)     09 January 2019

T.T.VIJAYAPRAKASH
properter 
 6 likes  252 points

| My Other Post

                     MR A UNDER  REG GST ACT. He pays rent rs.240,000/- per year and tax deducted at the rate of 10%.

1.M y query is TDS are declared in  GST  firm  EVERY MONTH?

avater

Dhirajlal Rambhia (KVO Merau Kutchh)     09 January 2019

Dhirajlal Rambhia
KVO Merau Kutchh 
 9123 likes  92646 points

View Profile | My Other Post

The TDS is deducted u/s. 194I of IT act, and the same is deducted from rent paid.

For GST purpose full amount of rent is taxable.

avater

v k s supraja (intermediate)     10 January 2019

v k s supraja
intermediate 
 14 likes  211 points

View Profile | My Other Post

sir, TDS on income tax is different from TDS on GST.

Here in the present case TDS is deducted under 194(i)(b) @ 10% and the same can be claimed whike filing income tax return.

Mr A should file GST returns by showing the income from providing rental service.
Whereas TDS on GST provisions are applicable to (i.e., only following mentioned persins are liable to deduct TDS on GST covered services and the same can be claimed as ITC while paying GST)

Who Is Liable To Deduct TDS – Section 51(1)

1. Central or State Govt Departments or Establishments

2. Local authority

3. Governmental agencies

4. Entities where 51% Equity or control owned by Govt.

5. Registered Societies of Central or State Govt and Local Authority

6. Public sector undertakings


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Popular Discussion


view more »