Goods and Services Tax : Understand tax implications on rental income: TDS on rent under Income Tax Act, GST on rent, rate of deduction, exemptions, and In...
Goods and Services Tax : Explore the TDS provision under GST as of 31st Oct 2023. Learn about regulations, implications, and recent updates. Ensure complia...
Goods and Services Tax : Tax Deducted at Source (TDS) is one of the ways to collect tax based on certain percentages on the amount payable by the receiver ...
Goods and Services Tax : Article explains Whether TDS under section 51 of CGST Act, 2017 is required to be deducted from supplier who is a unregister...
Goods and Services Tax : This article summarises one of the crucial points under GST i.e. GST TDS and its refund related parameters that are required to be...
Goods and Services Tax : In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances under Goods & Services Tax (GST) ...
Goods and Services Tax : Jharkhand High Court held that denying migration of unadjusted TDS amount under JVAT Act (Jharkhand Value Added Tax Act) to JGST (...
Goods and Services Tax : AAAR hold that the impugned services of the renting out of immovable properties provided by the Appellant to the Social Justice De...
Goods and Services Tax : TDS is not required to be deducted on payment made to the supplier of taxable goods or services or both, only when the value of su...
Goods and Services Tax : In re Vinayak Singh (GST AAR West Bengal) GST not payable on supply of services of lifting/ removing of garbage accumulated from v...
Goods and Services Tax : In re Uttarakhand Purv Sainik Kalyan Nigam Ltd. (GST AAR Uttarakhand) On perusal of legal provisions of Section 51 of CGST Act, 2...
Goods and Services Tax : In order to comply with the provisions of the said Act for the purpose of TDS, the following steps are required to be taken by the...
Goods and Services Tax : Extension in dates of various GST Compliances for GST Taxpayers Government has extended the dates of various compliances by Taxpay...
Gist of extension notifications No. 8/2021-Central Tax to 14/2021-Central Tax issued by CBIC on 01.05.2021 by which Relaxation has been provided in respect of Various GST Returns and GST Compliance. 1. Applicable rates of interest (08/2021 – Central Tax): Particulars Months Rate of interest Turnover > 5 crores in Last FY (Monthly Returns) March and […]
Relief Measures announced in GST Compliances In view of spread of pandemic COVID-19 (Issued vide gazette notifications dated 1st May 2021) 1. Waiver of Late Fees for delayed filing of GSTR 3B Return for the month of March & April 2021 [Notification No. 9/2021-CT dated 1st May 2021]: Late fees for delayed filing of GSTR-3B […]
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. The concept of Tax Deduction at Source (TDS) was there in the erstwhile VAT Laws. GST Law also mandates Tax Deduction at Source (TDS) vide […]
Section 51 r.w. Rule 66: Tax Deductible at Source (TDS) refers to certain percentage that is deducted by the receiver of Goods/services on the amount payable on account of Supply made if Transaction Value as per Section 15 of CGST act 2017 exceeds 2.5 Lakhs.
Who is required to deduct and file GST TDS return? The registered taxpayers who deduct the TDS under section 37 of GST rules are required to file TDS return form in the GSTR 7. According to the Notification No. 33/2017 Central Tax, 15th September 2017, these entities also need to deduct TDS- 1. An authority […]
Under indirect tax laws, concept of tax deduction could be traced in erstwhile State level VAT enactments also. Now, post GST implementation, the concept has also been made applicable effective from October 01, 2018 which is in addition to obligation of deduction of tax at source under direct tax laws.
Deduction of taxes at source has been an integral part in the history of Indian Income Tax. However the concept of TDS has also been incorporated in the GST Act(s). The basic concept remains the same that is withholding a certain percentage of amount as tax before paying the contract value to the supplier in […]
