Tax Deducted At Source ( TDS ) Under Goods and Services Tax


Quick Summary
This guide explains Tax Deducted at Source (TDS) within the Goods and Services Tax (GST) framework. It details the specific categories of persons required to deduct TDS, the threshold value for deduction (over £2.5 lakh per contract), and various scenarios where TDS is applicable or exempt. The document also covers the process for TDS registration, payment, filing returns (GSTR-7), and the deductee's acceptance of the deducted tax. It's an essential resource for businesses and professionals needing to ensure compliance with GST TDS regulations.

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We all are familiar with the word TDS (Tax Deducted at Source) in relation to Direct Tax, but few people are aware that similar term exists in Indirect Tax also. #docx
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