Goods and Services Tax – GST – By: – Mr. M. GOVINDARAJAN – Dated:- 20-9-2018 – Date of effect The provisions of GST came into effect from 01.07.2017. Section 3 of the Central Goods and Services Tax Act, 2017 ( Act for short) provides that different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision. Vide Notification No. 33/2017-Central Tax, dated 15.09.2017, the Central Government appointed 18.09.2017 as the date on which the provisions of sub-section (1) of section 51 of the said Act shall come into force with respect to persons specified under clauses (a) and (b) of sub-section (1) of section 51 of the said Act and the persons specified below under clause (d) of sub-section (1) of section 51 of the said Act, namely:- an authority or a board or any other body, – set up by an Act of Parliament or a State Legislature; or establis
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ishment of the Central Government or State Government; or local authority; or Governmental agencies; or persons asnotified by the Government vide Notification No. 50/2018-Central Tax, dated 13.09.2018- an authority or a board or any other body – set up by an Act of Parliament or a State Legislature; or established by any Government, with 51% or more participation by way of equity or control, to carry out any function; Society established by the Central Government or the State Government or a Local Authority under the Societies Registration Act, 1860 Public sector undertakings. to deduct tax from the payment made or credited to the suppliers of taxable goods or services or both. 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 be, Union territory of registration of the recipient. Registration Section 24 provides for compulsory registration under the Act for certain per
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igned or verified through electronic verification code, electronically in Form GST REG-14, along with the documents relating to such change at the common portal, either directly or through a Facilitation Centre notified by the Commissioner. If the particulars furnished is correct the proper officer will cause amendment of registration certificate Where the proper officer is of the opinion that the amendment sought is either not warranted or the documents furnished therewith are incomplete or incorrect, he may, within a period of fifteen working days from the date of the receipt of the application in Form GST REG-14, serve a notice in Form GST REG-03, requiring the registered person to show cause, within a period of seven working days of the service of the said notice, as to why the application submitted shall not be rejected. The registered person shall furnish a reply to the notice to show cause, in Form GST REG-04, within a period of seven working days from the date of the service of
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er section 51 the said officer may cancel the registration and such cancellation shall be communicated to the said person electronically in Form GST REG-08. The proper officer shall follow the procedure as provided in rule 22 for the cancellation of registration. Rate of tax The rate of tax to be deducted by the persons concerned is 1% from the payment made or credited to the suppliers of taxable goods or services or both. Threshold limit The tax is to be deducted only if the value of supply under a contract exceeds ₹ 2.50 lakhs. 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. Due date for payment of tax deducted The 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, in such manner as may be prescribed. If any deductor fails to pay to the Government the amount d
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Tax Deduction at Source Certificate 1. TDS Certificate No. – 2. GSTIN of deductor – 3. Name of deductor – 4. GSTIN of deductee- 5. (a) Legal name of the deductee – (b) Trade name, if any – 6. Tax period in which tax deducted and accounted for in GSTR-7 – 7. Details of supplies Amount of tax deducted – Value on which tax deducted Amount of Tax deducted at source (Rs.) Integrated Tax Central Tax State /UT Tax 1 2 3 4 Signature Name Designation Office – 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. Late fee 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 the day after the expiry of such five days period until the failure is rectified, subject
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