TDS On GST CASES WHERE TDS ON GST IS NOT REQUIRED TO BE DEDUCTED TDS on GST is only required to be deducted where the payment made or credited to the supplier is done by the above mentioned category of persons. There are certain exceptions to this and in the following cases, TDS would not be deducted even if the payment is made by the above mentioned persons: 1. Contract Value does not exceed Rs. 2.5 Lakhs
If the Contract Value does not exceed Rs. 2.5 Lakhs, No TDS is required to be deducted.
Eg 1: Mr. Karan Batra enters into a contract of Rs. 2 Lakhs with a Public Sector Undertaking to provide Income Tax Advisory. He also enters into a contract worth Rs. 1.5 Lakhs to provide GST Advisory. In the above mentioned example – the total value of services provided is Rs. 3.5 Lakhs which is more than Rs. 2.5 Lakhs. However, in this case, the provisions of TDS on GST would not be applicable as the value of each contract is less than Rs. 2.5 Lakhs. Eg 2: Mr. Karan Batra enters into a single contract to provide services worth Rs. 3 Lakhs. He receives Rs. 1.5 Lakhs as advance on 1st Oct 2018 and the balance Rs. 1.5 Lakhs on 1st May 2019. The provisions of TDS on GST will get applicable as the contract value is more than Rs. 2.5 Lakhs.
Therefore, while determining the applicability of TDS on GST - it is the individual contract value which would be considered irrespective of the total no. of contracts. 2. Location of Recipient is different from Location of Supplier and Place of Supply
TDS on GST would not be applicable if the Location of Recipient is different from the Location of Supplier and the Place of Supply This can be explained with the help of an example. For eg: Delhi Govt. enters into a contract worth Rs. 5 Lakhs with Radisson Haryana to rent space for the purpose of conducting an event in their hotel. In this case, Radisson hotel will levy Haryana SGST and CGST.
• Place of Supply – Haryana • Location of Supplier – Haryana • Location of Recipient Delhi The provisions of TDS would not apply in this case irrespective of the contract value as the Place of Supply and Location of Supplier is different from the Location of Recipient. Eg 2: A vendor registered in Karnataka provides services to the Maharashtra Govt worth Rs. 3 Lakhs. In this case, IGST would be levied. • Place of Supply - Maharashtra • Location of Supplier - Karnataka • Location of Recipient Maharashtra
The provisions of TDS will apply in this case.
Therefore, while determining the applicability of TDS on GST, it is very important to determine the place of supply. The rules for determination of place of supply are mentioned here with examples:- Rules for Determination of Place of Supply under GST Norms DEPOSIT OF GST TDS AND TDS CERTIFICATE The amount of TDS deducted should be deposited with the govt by the deductor by the 10th of the next month in Form GSTR 7 through the online portal gst.gov.in. The deductor would be liable to pay interest if the tax deducted is not deposited within the prescribed time limit as mentioned above. A TDS Certificate would also be required to be issued by the deductor (the person who is deducting the tax i.e. the recipient) in GSTR 7A to the deductee (the supplier whose payment is being deducted) within 5 days of depositing the TDS with the Govt.
If the TDS Certificate is not issued within 5 days from the date of deposit with the Govt., the deductor would be liable to pay late fees of Rs. 100/ day. However, the late fees levied should not be more than Rs. 5,000. The TDS so deducted would also be visible to the suppliers in Form GSTR 2A and the supplier can include and avail the same in GSTR 2. The supplier can take this amount as credit in his electronic cash register and use the same for payment of tax or any other liability. Visit http://www.jvvco.in/services.html for accounting and law related services like chartered accountant in vapi, top ca firms in vapi, financial planning and advisory services in vapi, auditing services in vapi, service tax return filing services in vapi, financial planner in vapi, company law service in vapi, Business Restructuring Services in vapi, asset valuation service in vapi,income tax consultants in vapi.
TDS On GST
TDS On GST CASES WHERE TDS ON GST IS NOT REQUIRED TO BE DEDUCTED TDS on GST is only required to be deducted where the payment made or credited to the ...
May 18, 2017 - HSN Code. No. Name of Commodity. Chapter. No. Sch. GST. ( %). GST ON GOODS. Under GST Act, 2017. (As at 18.05.2017). 46. 0204.22.00 ...
BLANKETS(OTHER THAN ELECTRIC BLANKETS)& TRVLNG RUGS,OF WOOL OR OF FINE ANIMAL HAIR. 63 ...... 24012010. FLUE CURED VIRGINIA TOBACCO PARTLY / WHOLLYSTMD/STRIPPED. 24 ...... RAW FURSKINS OF (INDIAN-PERSIAN ETC) LAMB WHOLE WITH OR WITHOUT HEAD-TAIL OR P
GST-IFP8. P-9905. USB Printer Interface. Connecting USB printer. (EPSON LQ-300+II, LQ-590K). GST-M200. GST200-2. Handheld Programmer. LCD Repeater Panel. Technical Specification. Technical Specification. Network Repeater Panel. â¢ Portable programmi
coating with a matt finish. SikagardÂ®-216 W is a single component, coloured, waterborne, modified acrylic resin based surface coating containing a silver ion based in-film preservative. Â¢ Coloured coating for internal walls and ceilings. Â¢ For con
Jul 1, 2017 - a) re-import of goods exported under claim of any export scheme [drawback, rebate, bond, DEEC or EPCG, DEPB], b) re-import of goods sent abroad for repairs etc. c) re-import of cut and polished precious and semiprecious stones sent abro
5704 CARPETS AND OTHER TEXTILE FLOOR COVERINGS, OF FELT, NOT TUFTED OR FLOCKED, WHETHER OR NOT MADE UP ...... 10062000 RICE HUSKED (BROWN) RICE. 10063010 RICE ...... 14049050 VEGETABLE PRODUCTS NOT ELSEWHERE SPECIFIED OR INCLUDED OTHER : INDIAN KATHA
Addressable Fire Panel. Optional Components for GST-IFP8. LCIFP8. GST IFP8 Loop Card. Specification : 3. â Powered by GST IFP8 mother board. â Easy installation, set card address via on board rotary switch then fix the card on mother board loop b
Reviu Laporan Keuangan Pemerintah Daerah Berbasis Sistem Informasi. Jakarta, 22 - 23 Maret 2018. 90 clicks. Akuntansi Berbasis Akrual di Lingkungan Pemerintah Daerah. Jakarta, 5 - 6 April 2018 ... Memahami Penerapan National Single Window (NSW) Pada
Both fuel bladders are provided with a removable female OMC engine plug, and a ... foldable, light, this collapsible bladder is built in an high resistance fabric ...
Mar 17, 2012 - DGFT â Directorate General of Foreign Trade. EC â Empowered Committee. ECGC â Export Credit Guarantee Corporation. EH â Export House. EHTP - Electronic Hardware Technology Park. EOU â Export-Oriented Undertakings. EPCG â Ex
Apr 1, 2015 - Medium Enterprises. (Kos Pematuhan Cukai Barangan dan Perkhidmatan (GST) di Kalangan Perusahaan Kecil dan Sederhana. Rosiati Ramli. Mohd Rizal .... Oceania. 7. Africa. 44. South America. 11. Caribbean, Central & North America. 19. Sourc
GD0342420. G S T CONSTRUCTION ...... GD0379778. NEERAJ CHEMICALS ENGG. 6,109. KB-36 KAVI NAGAR GZB. 09389100823 ...... H S N ENGG. 7,575.
Embedment, intermediate for internal walls and ceilings. Â¢ For concrete, bricks ... Standard colour shade: papyrus white (approx. RAL 9018). SikagardÂ®-218 W. (Steribase SI):. 5 litres (= 6.40kg containers. 15.0 litres (= 19.20kg) containers. 18 mon
export of goods could opt for Export Promotion Capital Goods (EPCG) scheme to procure the goods without payment of any duties. It is expected that the EPCG scheme wherein 6 times of duty saved amount to be exported within 6 years would continue in GS
GST-IFP8. Features and Benefits. â¢. Listed to LPCB. â¢. 8 x Loops (242) capacity (1936) addressable points. â¢. Maximum 10 Loops Standalone. â¢. Modular constructed for future expansion. â¢. 40 x15 lines Colour Graphical LCD. Display. â¢. Up t
Jul 1, 2017 - 5.3.6 Average VAT/GST Rates across countries. 5.4 RNR and the ...... Incidentally, now there is standardized nomenclature (HSN) for services also. ...... 6,109. 230245. 10,510. 398880. 13276. 460959. 23,443. 706561. 26664.
Technical data. Compatibility with plastics, resistance to stress cracking. Nicht mit jeder. Kunststoffsorte vertrÃ¤glich, bei Polyamid ist eine. RiÃbildungmÃ¶glich. (Spannungsrisskorrosion). / Not compatible with all plastics. Crack formation possi
Please contact GST for more information or questions. Gulf Security Technology Co., Ltd. No. 80,Changjiang East Road, QETDZ, Qinhuangdao, Hebei, P. R. China 066004 www.gst.com.cn www.utcfireandsecurity.com [email protected] DS1002649-1. Page 1.