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TDS refund Eligible or not?
Legal Position :
TDS is to be deducted at the rate of 2% on payments made to the supplier of taxable goods and/or services, where the total value of such supply, under an individual contract, exceeds Rs.2,50,000. No deduction of Tax is required when the location of supplier and place of supply is different from the State of the registration of the recipient.
Conclusion :
Yes, there is remedy. Any excess or erroneous amount deducted and paid to the Government account shall be dealt for refund under section 54 of the CGST Act, 2017. However, if the deducted amount is already credited to the electronic cash ledger of the supplier, the same shall not be refunded.
Best Regards,
CA Mohd. Firoz Khan
ca.mfkhan @ gmail.com
Yes, Supplier can claim refund under the option of Excess Balance in Electronic Cash Ledger
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