Presentation on TDS (Tax Deduction at Source)
GST
Dated:- 10-8-2017
Presentation on TDS (Tax Deduction at Source)
=============
Document 1
TAX DEDUCTED AT SOURCE
[TDS]
PROVISIONS UNDER THE
GST LAWS
Goods and Services Tax
GOVERNMENT
UNITY
OF
NAGALAND
WHAT IS TDS IN GST ?
As per provisions of Section 51
of the GST Law
TDS stands for
“Tax Deducted at Source”.
BASIC CONCEPT
As per the provisions of the GST Law,
TDS has to be deducted from the
payment made to a supplier against
both intra-state & inter-state supply
of taxable goods or services or both.
CONDITIONS FOR DEDUCTION OF TDS IN GST:
(i) In GST, deduction of TDS has to be made on a payment
made or credited to a supplier of any taxable goods or
services or both where the total contract value of such
supply exceeds Rs. 2.5 Lakhs.
(ii) So, once a Work Order/Purchase Order worth a value
exceeding Rs. 2.5 Lakhs is issued by a Govt Dept., all the
payments made under such Order will automatically
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TDS
2. Obtaining GST Registration Number online
3. Depositing the deducted TDS.
4. Furnishing deduction/payment details by uploading
online return & issuing certificate of deduction
ISSUE # 1
DEDUCTION OF TDS
30
9
789
00
O
1354
18031
4
1800.5
1637.8
2721
SPE
How is TDS deducted?
Who deducts TDS ?
The PERSON
RESPONSIBLE for making
payment to a SUPPLIER [DDO] is
compulsorily required to make deduction of
TDS.
Rate of deduction for TDS
–
There are 3 types of taxes in GST – IGST, CGST & NGST.
The deduction against intra-state supply will be CGST &
NGST, and the deduction against inter-state supply will
be IGST.
Rate of such deduction is @ 2% [i.e. 1% each on CGST
& NGST component] on the payment amount against
intra-state supply & @ 2% [as IGST] on the payment
amount against inter-state supply.
ISSUE #2
OBTAINING
TAXO
REGISTRATION
NUMBER(GSTIN)
TAX-
AC
A
00
Under the GST law, all liable Govt agencies
will be required to get registered a
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7
Where to obtain PAN?
PAN:
• Applicant may either make an online application through this
website or submit physical PAN Application to any TIN-FC or PAN
centre of NSDL.
Please log on https://www.tin-nsdl.com/services/pan/pan-
index.html
OR
you can visit FC centers for TIN & PAN located at Dimapur in below
mentioned link https://www.tin-nsdl.com/tin-facilities.html
What is DSC?
DSC:
•âš« Digital Signature Certificates (DSC) are the digital equivalent
(that is electronic format) of physical or paper certificates. A
digital certificate can be presented electronically to prove one's
identity, to access information or services on the Internet or to
sign certain documents digitally. In India, DSC are issues by
authorized Certifying Authorities.
• The GST Portal accepts only PAN based Class II and III DSC.
Where to obtain DSC?
• Applicant can procure any of the Class 2 or 3 certificates from any
of the certifying authorities.
• Tata Co
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[Net Banking/Debit-Credit
card/NEFT-RTGS] [Cheque/DD through OTC Mode]
The deducted amount is to be deposited in the following
manner:-
For deduction against intra-state supply: 1% each to
be deposited in the CGST & SGST A/c heads.
For deduction against inter-state supply: entire 2%
amount to be deposited in the IGST A/c head.
Time limit for depositing TDS
Have to pay before Filing of Returns i.e. 10th of next
subsequent month.
e.g. tax deducted for JULY has to be deposited before
10th AUGUST.
Interest payable
If any deductor fails to pay the deducted TDS to the
Government within the prescribed period, DDO shall
pay on his own an interest at a rate not exceeding 18%
for the period for which such TDS remains unpaid
along with the amount of tax deducted.
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123
ACO
ON
FILING OF TDS
1
-81.91
13.
-1465.29
1203
-661.00
-150.00
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ISSUE #4
2706.20
1
-139 24
4.59
80.07
RETURNS ONLINE
3065.07
13015.04
-35 00
434
-68.00
2706.20
141
12871.04
1
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vernment,
the deductor shall pay a late fee of Rs. 100 per day
from the day after the expiry of such five day period
until the failure is rectified.
â– The maximum Late Fee under this instance is Rs.
5000/-.
Please do remember….
â–ª Where a deductor fails to deduct the TDS in GST or
deducts an amount which is less than the amount
required to be deducted fails to pay the deducted
amount to the Government, he shall have to pay
such amount of TDS with Interest along with a
penalty.
â– â–ª This penalty amounts to Rs. 10,000/- or an amount
equivalent to the tax not deducted or short
deducted or
or
deducted but not paid to the
Government, whichever is higher.
Provision of refund of TDS erroneously deducted or
deducted in excess already deposited in the Govt A/c
â– In GST, any amount of TDS erroneously deducted or
deducted in excess already deposited in the Govt a/c
by the deductor may be refunded to him.
â– However, once such amount is refl
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