Uttam Saha (TAX PROFESSIONAL) 25 January 2019
In case we have a bill with a Basic Amount @ 47,584.00/-
Add: CGST (9%) + SGST (9%) = 8,565.12/- ( @ 4282.56 each)
Total Bill after Tax = 56,149.12/-
Total Bill after Round off = 56,149/-
TDS under GST is to be deducted @ 1% of Basic Amount (47,584.00, i.e. 475.84) for both CGST & SGST each.
Under TDS for IT assuming the payment is to be made to a company - the deduction to contractor to be @ 2% of 56,149/-(Gross Bill) or 47,584/- (Net Bill)?
Please provide the relevant circular if available or information source .