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Brief summary regarding the definition of Value of supply and Contract under section 51, Situation when TDS is not deductible based on Place of supply.
Recently Central Government has issued notification No. 50 – 2018; Dated 13/09/2018, giving a final green signal for the implementation of TDS under GST (Section 51 of CGST) with effect from 1st October 2018. I tried to compile the provisions of the section 51 in One Single Table to understand the same quickly and effectively. […]
The concept of TDS is a simple concept incorporated under GST with the intent to tap the possible chances of revenue leakage and Prevent Tax Evasion. Under the Scheme the recipient deducts tax at the notified rate from the payment due to the supplier and deposits the tax into the government treasury on behalf of the supplier. When the supplier files return, he can claim credit of the tax paid by the recipient on his behalf. Section 51 of the CGST Act deals with the issue of TDS. Let us discuss in this article detailed analysis of TDS provisions.
The central government has issued the Circular No. 65/39/2018 regarding guidelines related to Deductions and Deposits of TDS by the DRAWING AND DISBURSING OFFICER (DDO) under GST. In these article we will see the detailed information about the circular.
Section 51 CGST (Central Goods and Services Tax) Act 2017, provides that, A department or establishment of Central Govt or State Govt, or local authority or Govt Agencies or other specified persons are required to deduct TDS @ 2% (IGST 2%, or CGST 1% + SGST 1%)
TDS under GST has been introduced and same is applicable on Government Owned Undertakings which will work as Anti Tax Evasion Mechanism and put Control on Government authorities on Payment made on high value contracts
ITO Vs Shri Anil Kumar Nevatia (ITAT Kolkata) The ld. DR vehemently argued that the assessee had used the same truck numbers for transporting its goods and hence explanation of the assessee that payments were made only to the truck drivers and that no oral or written contract was entered into with the truck owners […]
TDS under GST (Section 51 of CGST Act)- Applicable from 1st October 2018 Who Is Liable To Deduct TDS – Section 51(1) 1. Central or State Govt Departments or Establishments 2. Local authority 3. Governmental agencies 4. Entities where 51% Equity or control owned by Govt. 5. Registered Societies of Central or State Govt and […]
Origins Build-Tech Pvt Ltd Vs ACIT (ITAT Ahemdabad) adjustment in respect of levy of fees under section 234E was indeed beyond the scope of permissible adjustments contemplated under section 200A. This intimation is an appealable order under section 246A(a), and, therefore, the CIT(A) ought to have examined legality of the adjustment made under this intimation in […]
There are certain category of persons for whom registration under GST act is mandatory irrespective of their turnover limits as specified in Section 22 (i.e. Rs. 10 lakhs for special category states and Rs. 20 lakhs for others). These categories have to get register themselves on mandatory basis under GST act by virtue of Section […]