Goods and Services Tax : Section 51 of GST mandates TDS deduction by government entities and PSUs for contracts over ₹2.5 lakh, excluding GST, with rates...
Goods and Services Tax : अधिसूचना 25/2024 के अनुसार धातु स्क्रैप पर GST TDS की समीक...
Goods and Services Tax : Learn about the TDS provisions under GST for metal scrap, applicable from October 2024, covering thresholds, rates, and filing req...
Goods and Services Tax : From Oct 2024, 2% TDS on metal scrap transactions exceeding ₹2.5 lakh under GST. Registration and return filing requirements int...
Goods and Services Tax : In the evolving landscape of GST compliance, the recent Notification No. 25/2024-Central Tax dated 9th of October 2024 has introdu...
Goods and Services Tax : Explore the key recommendations made by the GST Council during its 54th meeting, including changes in GST rates, GoM formations, a...
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 : CBIC extends the GSTR-7 filing deadline for TDS deductors under GST Act and Rules for December 2024 to January 12, 2025....
Goods and Services Tax : Learn how to report TDS deducted by scrap dealers in October 2024 under GST. Consolidate amounts in the November 2024 GSTR-7 retur...
Goods and Services Tax : Notification 25/2024 mandates compliance for businesses dealing with metal scrap under GST. GST portal update will enable registra...
Goods and Services Tax : Ministry of Finance amends GST notification, exempting metal scrap suppliers from provisions of notification No. 5/2017-Central Ta...
Goods and Services Tax : The Ministry of Finance amends GST notification, exempting metal scrap suppliers from provisions of notification No. 5/2017-Centra...
GST Compliance Due dates as amended by Notifications 9/2021, 12/2021, 13/2021-Central Tax issued by CBIC on 1st May 2021 Due Dates for March 2021 and April 2021 For Part 1 states Due Dates for March 2021 and April 2021 For Part 2 states Turnover > 5crores in preceding financial year Turnover > 5crores in preceding […]
In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances under Goods & Services Tax (GST) law due to the outbreak of the second wave of COVID-19 pandemic, the Government has issued notifications, all dated 1st May, 2021, providing various relief measures for taxpayers. These measures are explained below:
Amidst the second wave of covid-19 pandemic throughout the country and complete/partial lockdown already in force in most parts of the country, CBIC comes out with another set of midnight notifications to provide relief to the taxpayers for various GST compliance/returns. The relief comes in the form of waiving late fees for certain Certain returns […]
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 […]
