TDS on GST

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12 Points Posted on 21 February 2020

Hi, Need help anyone

Is TDS on GST applicable on Insurance Premium renewal of students. If the Invoice amount is more than 2.5 lakh without including GST 18%. And if the Insurance Company is Govt.

Thanks.

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On 21 February 2020 at 15:51 Report
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Quick Summary
This discussion clarifies whether Tax Deducted at Source (TDS) under GST is applicable to insurance premium renewals for students, especially when the invoice exceeds £2.5 lakh (excluding GST). The consensus is that TDS on GST is not applicable in this scenario because the recipient (the institute) is registered under GST and is availing services from a registered insurer. The key point is that the recipient is not a government entity making a payment to a registered supplier, which is the condition for TDS under Section 51 of the CGST Act.

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GST Practitioner
55067 Points Posted on 21 February 2020
Kindly clarify the who is taking the insurance ???? whether registered in GST ???
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On 21 February 2020 at 20:44
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12 Points Posted on 21 February 2020

Our Institute is taking insurance & yes we are registered with GST

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On 21 February 2020 at 20:58
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GST Practitioner
55067 Points Posted on 22 February 2020
No TDS is not applicable.

As per Section 51 of CGST Act TDS GST is applicable :
If the Recepeint is Govt concern availing services or goods from Registered person.

Hence in your case you are the Recepeint of services so no GST TDS liability arises
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On 22 February 2020 at 00:11
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Service
31 Points Posted on 22 February 2020
How to accept Tds Gst credit in Gst portal?
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On 22 February 2020 at 04:45
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12 Points Posted on 22 February 2020

Thank you sir. 

So we cannot deduct TDS GST/IGST from the Invoice amount of Insurance premium.

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On 22 February 2020 at 07:11
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GST Practitioner
55067 Points Posted on 23 February 2020

No........ Not required

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On 23 February 2020 at 21:05
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12 Points Posted on 23 February 2020

Thank you so much,.........

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On 23 February 2020 at 21:10

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