Tds under gst is seprate from TDS under Income tax

The TDS under GST and TDS under the Income Tax act are two different things. 

TDS under GST is governed by the CGST Act.  As per GST law following people/entities need to deduct TDS:

1.      A department or establishment of the Central or State Government, or

2.      Local authority, or

3.      Governmental agencies, or

4.      Persons or category of persons as may be notified, by the Central or a State Government on the recommendations of the Council.

As per Notification No. 33/2017 – Central Tax, 15th September 2017

The following entities also need to deduct TDS-

1. An authority or a board or any other body which has been set up by Parliament or a State Legislature or  by a government, with 51% equity ( control) owned by government
2. A society established by the Central or any State Government or a Local Authority and the society is registered under the Societies Registration Act, 1860
3. Public sector undertakings

However, the TDS will not be deducted when the location of the supplier and place of supply is different from the registration place (State) of the recipient.

Further in case of GST, the TDS returns are ti be filed vide Form GSTR 7 and TCS Returns vide Form GSTR 7A. 

In case of income Tax, the TDS provisions are governed by section 192 to 196 and TCS provisions are governed by section 206C of the Income Tax Act 1961 . The TDS/TCS returns are to filed vide Form 24Q/26Q/27Q/27EQ.  

TDS under GST is applicable from 01.10.2018. However, one of our section has made a payment on 10.10.2018 to the contractor without deducting CGST TDS & SGST TDS (contract value exceeds 2.5 Lakhs).

What best we have to do now. Can we deduct CGST TDS & SGST TDS  in next payment.

Regards,

Anbuselvam