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TMI BlogGuidelines for Deductions and Deposits of TDS by the DDO under GST.X X X X Extracts X X X X X X X X Extracts X X X X ..... where the total value of such supply, under a contract, exceeds two lakh and fifty thousand rupees. The amount deducted as tax under this section shall be paid to the Government by the Deductor within ten days after the end of the month in which such deduction is made alongwith a return in FORM GSTR-7, giving the details of deductions and Deductees. Further, the Deductor has to issue a certificate to the Deductee mentioning therein the contract value, rate of deduction, amount deducted, etc. 2. As per the SGST Act, 2017, every Deductor shall deduct the tax amount from the payment made to the supplier of goods or services or both and deposit the tax amount so deducted with the Government account, using challan on the common portal. In addi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion by the State Government Authorities. The process flow for Option I and Option Il are described below: 6. Option I-Individual Bill-wise Deduction and its Deposit by the DDO.- (a) In this option, the DDO will have to deduct as well as deposit the GST TDS for each bill individually. (b) Following process shall be followed by the DDO in this regard: (i) The DDO shall prepare the FVC (Fully Vouched Contingency) Bill, by providing the details of the (a) Total amount, (b) net amount payable to the Contractor/Supplier/Vendor and (c) the 2% TDS amount of GST TDS to be deducted. (ii) The amount of TDS so deducted, shall be remitted only through ECS (NACH) into a separate bank account (current account) permitted to be opened in the name o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... noted by the DDO anytime on GSTN portal using his Login credentials. (vii) The DDO should maintain a Register as per proforma given in Annexure 'A ' to keep record of all TDS deductions made by him during the month. This Record will be helpful at the time of filing Monthly Return (FORM GSTR-7) by the DDO. The DDO may also make use of the offline utility available on the GSTN Portal for this purpose. (viii) The DDO shall generate TDS Certificate through the GST Portal in FORM GSTR-7A after filing of Monthly Return. 7. Option II - Bunching of deductions and its deposit by the DDO.- (a) Option-I may not be suitable for DDOs who make large number of payments in a month as it would require them to process large number of challans ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mode of payment as (a) NEFT/RTGS, (b) OTC or (c) Through online payment, using SBI payment gateway or SBI Internet Banking facility. Note :- In the OTC mode, the DDO will have to select the Bank (i.e. State Bank of India) and the mode of payment as cash or Cheque or Demand Draft where the payment will be deposited through OTC mode. DDO's are advised to seek assistance of SBI and make payments preferably through online mode. (v) Upon successful payment, a CIN will be generated by the RBI/Authorized Bank and will be shared electronically with the GSTN Portal. This will get credited in the Electronic Cash Ledger of the concerned DDO in the GSTN Portal. This can be viewed and the details of CIN can be noted by the DDO anytime on G ..... X X X X Extracts X X X X X X X X Extracts X X X X
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