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TAX DEDUCTED AT SOURCE UNDER ‘GST’ REGIME

Goods and Services Tax - GST - By: - Mr. M. GOVINDARAJAN - Dated:- 6-5-2017 Last Replied Date:- 6-5-2017 - Who are liable to deduct tax at source? Section 51 of the Central Goods and Services Tax Act, 2017 ( Act for short) provides the procedure to deduct tax at source. Section 51(1) provides who are liable to deduct tax at source. Section 51(1) provide that notwithstanding anything to the contrary contained in this Act, the Central Government may mandate- a department or establishment of the Ce .....

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supply is less than ₹ 2,50,000/-. Further we may expect many more persons liable to this section as the Central Government is given power under this section to notify such persons or category of persons on the recommendations of the Council. The proviso to this section provides that no deduction shall be made if the location of the supplier and the place of supply is in a State or Union territory which is different from the State or as the case may, Union territory of registration of the .....

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application. Value of supply The explanation to Section 51(1) provides that for the purpose of deduction of tax specified above, the value of supply shall be taken as the amount excluding the central tax, State tax, Union territory tax, integrated tax and cess indicated in the invoice. Time limit to pay Section 51(2) provides that amount deducted as tax under Section 51 shall be paid to the Government by the deductor within 10 days after the end of the month in which such deduction is made. Paym .....

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eposit shall be made through any of the following modes- Internet banking through authorized banks; Credit card or Debit card through the authorized bank; National Electronic Fund Transfer (NeFT) or Real Time Gross Settlement (RTGS) from any bank; Over the Counter payment (OTC) through authorized banks for deposits up to ₹ 10,000/- per challan per tax period, by cash, cheque or demand draft. The challan in Form GST PMT - 06 generated at the Common Portal shall be valid for a period of 15 d .....

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cting bank and the same shall be indicated in the challan. On receipt of CIN from the authorized bank, the said amount shall be credited to the electronic cash ledger of the person on whose behalf the deposit has been made and the Common Portal shall available a receipt to this effect. Where the bank account of the person concerned, or the person making the deposit on his behalf but no Challan Identification Number is generated or generated but not communicated to the Common Portal the said pers .....

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r particulars in such manner as may be prescribed. The certificate shall be made available electronically to the deductee on the Common Portal in Form GSTR - 7A on the basis of return furnished the deductor. Late fee Section 51(4) provides that if any deductor fails to furnish to the deductee the certificate, after deducting the tax at source, within five days of crediting the amount so deducted to the Government, the deductor shall pay, by way of a late fee, a sum of ₹ 100/- per day from .....

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suppliers in Part C of Form GSTR - 2A on the Common Portal after the due date (10 days from the end of the month) of filing of Form GSTR - 07. Payment of interest Section 51(6) provides that if any deductor fails to pay to the Government the amount deducted as tax, he shall pay interest in accordance with the provisions of Section 50(1), in addition to the amount of tax deducted. The determination of the amount in default shall be made in the manner specified in section 73 or section 74. Refund .....

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gh the Common Portal electronically, clearly indicating the date of filing of the claim of refund. Where any deficiencies are noticed the proper officer shall communicate the deficiencies to the application in Form GST RFD - 03 through the Common Portal electronically, requiring him to file a refund application after rectification of such deficiencies. The proper officer, after scrutiny of the claim and the evidence submitted in support thereof and on being prima facie satisfied that the amount .....

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