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Every registered person liable to deduct tax at source shall furnish Monthly Gst Return [Section 39(3)] - GST Ready Reckoner - GSTExtract Every registered person liable to deduct tax at source shall furnish Monthly Return [ Section 39(3) Read with Rule 66 ] Every registered person required to deduct tax at source under the provisions of section 51 shall furnish a return in Form GSTR-7 electronically through the common portal either directly or from a Facilitation Centre notified by the Commissioner, for the month in which such deductions have been made within 10 days after the end of such month. The details furnished by the deductor shall be made available electronically to each of the suppliers in Part C of FORM GSTR-2A and FORM-GSTR-4A on the common portal after the due date of filing of FORM GSTR.7. The certificate referred to in sub-section (3) of section 51 shall be made available electronically to the deductee on the common portal in FORM GSTR-7A on the basis of the return furnished under sub-rule (1) Penalty in respect of TDS As per Section 122 (1) Where a taxable person who fails to deduct the tax in terms of sub-section (1) of section 51, or deducts an amount which is less than the amount required to be deducted under the said sub-section, or where he fails to pay to the Government under sub-section (2) thereof, the amount deducted as tax. Penalty equal to a) Rs. 10000/- or b) an amount equivalent to the tax evaded or the tax not deducted under section 51 or short deducted or deducted but not paid to the Government, whichever is higher.
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