Uttam Saha (TAX PROFESSIONAL) 01 February 2019
A tender floated by a government department has the following values which has been accepted at 3,22,136/-:
|Cess 1% +||4944.91|
|Tender Accept Rate :Less - 35.50%||177299.82|
Now my query is for TDS under GST for the above contract should we work backwards in the following manner to arrive at the amount on which TDS is to be deducted.
|Cess 1% +||0.0112x|
So assuming 1.1312x = 322136; then x = 2,84,773.69, the tender values may be assumed as follows:
|Cess 1% +||3189.47|
My query is that should TDS on GST be deducted @ 1% each (CGST & SGST) on 2,84,773.69/- or some other values?
Pankaj Rawat (GST Practitioner) 01 February 2019