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TDS and TCS under revised GST Law

Goods and Services Tax - GST - By: - Sanjeev Singhal - Dated:- 5-1-2017 - In VAT Law there is provision of TDS in case of work contract in most of the Sates though in Service Tax there is no provision of TDS and TCS . Under Service Tax, it is directl .....

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will deduct tax at source @ 1% on credit or payment made to supplier of goods and/or services. Department or establishment of Central or State Govt. Local authority Government agencies Such person or category of person as may be notified by the Centr .....

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all be deposited in Govt. a/c within 10 days from the end of the month in which it is deducted. The Deductor shall issue certificate to the deductee mentioning the contract value, rate and amount deducted and paid. The Deductor will issue the above c .....

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posit the amount to Govt. a/c will have to pay interest u/s 45 Refund to the deductor or deductee, as the case may be , shall be dealt according to Sec.48. No refund can be made, if the amount has been credited to electronic cash ledger of deductee. .....

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gregate taxable value of goods or services other than services notified in Section 8[4], made during any month by registered taxable person, reduced by aggregate of taxable supplies return to the supplier during the said month. The amount collected a .....

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and the amount collected under Sub Sec. 1 in month, within 10 days from the end of month. The supplier shall take credit of TCS collected in his Electronic Cash Ledger. Where the outward supplies statement filed by operator does not match with the st .....

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