Goods and Services Tax : Covers complete TDS and TCS compliance under GST including new metal scrap rules. Provides step-by-step guidance for businesses an...
Goods and Services Tax : Comprehensive analysis of GST TDS provisions, covering applicability, rates, exemptions, payment obligations, and credit claims fo...
Goods and Services Tax : GST TDS issues like mismatches, rate disputes, and deduction errors burden infrastructure firms. Invoice-wise reporting in GSTR-7 ...
Goods and Services Tax : Notification No. 25/2024-Central Tax, issued on October 9, 2024, has expanded the applicability of GST TDS on metal scrap. Many bu...
Goods and Services Tax : The Goods and Services Tax (GST) regime has been in effect for several years now, and while it has simplified the indirect tax lan...
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 : Uttarakhand High Court held that inquiries into GST registration, dues, and TDS deductions cannot be addressed through a writ peti...
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 : 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...
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 […]
